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2103 Citywest Boulevard

Empyrean Benefit Solutions Leases 41,600 SF Office Space At CityWestPlace
LEASEDOffice

Empyrean Benefit Solutions Leases 41,600 SF Office Space At CityWestPlace

2103 Citywest Boulevard

Building Size

41,600 SF

Asset Type

Office

Closing

Jun 25, 2024

AI

Located at 2103 Citywest Boulevard in Houston, a 41,600-square-foot office space was leased to Empyrean Benefit Solutions. The lease deal was secured by landlords Jayson Lipsey of Parkway Property Investments and Bradley Freels of Midway Holdings, highlighting West Houston's appeal as a prime office destination.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Landlord: Jayson Lipsey - Parkway Property Investments; Bradley Freels - Midway Holdings
  • Tenant: Richard Wolfe - Empyrean Benefit Solutions
  • Brokers: Jennifer Meehan & Mark O’Donnell - Savills
  • Address: 2103 Citywest Boulevard
  • Market: Houston

The lease deal at Citywest Boulevard signifies the growing demand for quality office spaces in West Houston, with Empyrean Benefit Solutions choosing the location for its modern amenities and convenient commuting options. This move reflects a trend post-pandemic where office tenants are seeking enhanced working environments in well-connected areas.

Players

Mark O’Donnell

Savills

Broker

5 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