LEASEDOffice
SouthWest Water Co. Leases 41,114 SF Office Space In Sugar Land Town Square
2150 Town Square Place
Building Size
41,114 SF
Asset Type
Office
Closing
Jan 3, 2024
AI
Sugar Land-based SouthWest Water Co. has relocated to the former Minute Maid offices in Sugar Land Town Square, occupying 41,114 square feet. The 15-year lease transaction took place at 2150 Town Square Place in the Sugar Land market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Square Footage: 41,114
- Address: 2150 Town Square Place
- Market: Sugar Land
The landlord, Andy Lusk of Lionstone Investments, represented by Planned Community Development, leased the property to SouthWest Water Co. The tenant's representative in the deal was JLL.
Notably, SouthWest Water Co. was the first beneficiary of Sugar Land's office retention incentive program and received a $1 million cash incentive over two years.
Players
Sugar Land 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