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24 East Greenway Plaza

Webster Vicknair MacLeod Leases 10,150 Square Feet At 24 Greenway Plaza In Houston
LEASEDOffice

Webster Vicknair MacLeod Leases 10,150 Square Feet At 24 Greenway Plaza In Houston

24 East Greenway Plaza

Building Size

10,150 SF

Asset Type

Office

Closing

Jul 19, 2024

AI

The transaction involves a 10,150-square-foot office space located at 24 Greenway Plaza in Houston. The asset is part of a prominent area known as the Greenway District, catering to commercial activities. The leasing arrangement has facilitated the occupancy of this office by the law firm Webster Vicknair MacLeod, underlining the asset's functional suitability for professional services.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 24 Greenway Plaza
  • Market: Houston
  • Landlord: Wyatt Ranches
  • Tenant: Webster Vicknair MacLeod
  • Landlord's Representative: Nick Terry - Rifle CRE
  • Tenant's Representative: Ryan Hartsell - Oxford Partners

Ryan Hartsell of Oxford Partners facilitated the leasing transaction on behalf of the tenant, Webster Vicknair MacLeod. Meanwhile, Nick Terry of Rifle CRE represented the interests of the sublessor, Wyatt Ranches of Texas LLC, ensuring a comprehensive approach to the leasing process.

Players

Nick Terry

Broker

4 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