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
About this deal
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.
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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