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2103 Citywest Boulevard

Bechtel Expands Office Lease By 108724 Square Feet In Houston's CITYCENTRE Development
LEASEDOffice

Bechtel Expands Office Lease By 108724 Square Feet In Houston's CITYCENTRE Development

2103 Citywest Boulevard

Building Size

108,724 SF

Asset Type

Office

Closing

Jul 30, 2024

AI

The property asset involved in this transaction is located at 2103 Citywest Boulevard in Houston. It features an office space totaling 108,724 square feet. The landlord of the property is Parkway & Midway.

Summary of transaction details:

This lease transaction involved Bechtel expanding its office lease, adding four more floors to its existing space in West Houston's CITYCENTRE development. The lease negotiations were conducted by Kevin Kushner and William Padon representing Bechtel, while J.P. Hutcheson and Rima Soroka represented Parkway and Midway for the landlords.

Players

Rima Soroka

Broker

8 deals

Broker

Houston Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93