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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2103 Citywest Boulevard
- Market: Houston
- Landlord: Parkway & Midway
- Tenant: Bechtel
- Landlord's Representative: J.P. Hutcheson & Rima Soroka - Parkway Properties
- Tenant's Representative: Kevin Kushner & William Padon - CBRE
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
Houston Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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