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2500 Citywest BLVD, Houston...

Aspen Technology Inc Leases 79867 Square Feet At 2500 Citywest Blvd Houston From USAA Real Estate
LEASEDOffice

Aspen Technology Inc Leases 79867 Square Feet At 2500 Citywest Blvd Houston From USAA Real Estate

2500 Citywest BLVD, Houston, TX, 77...

Building Size

79,867 SF

Asset Type

Office

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 2500 CityWest Blvd, Houston, TX. This asset is a rented office space covering 79,867 square feet. The market for this property is Houston, and the landlord in this lease renewal is USAA Real Estate.

Summary of transaction details:

  • Property Type: Office Lease
  • Transaction Amount: Not disclosed
  • Address: 2500 Citywest Blvd, Houston, TX
  • Square Feet: 79,867
  • Landlord: USAA Real Estate
  • Tenant: Aspen Technology Inc
  • Landlord's Representative: Dennis Tarro
  • Brokerage Firms Involved: Cushman & Wakefield
  • Additional Representatives: Win Haggard Jr. and Vince Strake

This lease renewal involved Aspen Technology Inc., a metro Boston-based software developer, as the tenant. The specific representative of the tenant was not disclosed. The negotiations for the lease were supported by Dennis Tarro from Patrinely Group, who owns the property in partnership with USAA Real Estate, together with the brokerage team from Cushman & Wakefield.

Players

Vince Strake

Cushman & Wakefield

Broker

2 deals

Broker
USAA Real Estate
USAA Real EstateLender
USAA Real Estate
USAA Real EstateLandlord

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