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2150 Town Square Place

SouthWest Water Co. Leases 41,114 SF Office Space In Sugar Land Town Square
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

LI
Lionstone InvestmentsBuyer

Andy Lusk

Lionstone Investments

Landlord

1 deal

Landlord

Rob MacLean

SouthWest Water Co.

Tenant

2 deals

Tenant

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