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3720 Westheimer Road

Prenuvo Leases 52,342 Square Feet Office Space At 3720 Westheimer Road In Houston
LEASEDOffice

Prenuvo Leases 52,342 Square Feet Office Space At 3720 Westheimer Road In Houston

3720 Westheimer Road

Building Size

52,342 SF

Asset Type

Office

Closing

Aug 16, 2024

AI

The leased asset is located at 3720 Westheimer Road in Houston, with a total square footage of 52,342 designed for a healthcare facility. This property is situated in a six-story building, which is shared with SkinPharm, Nuveau, and Occu-Health Surgery Center. The leasing activity pertains to office space in a prominent area of Houston known as River Oaks.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 3720 Westheimer Road
  • Market: Houston
  • Asset Size: 52,342 square feet
  • Landlord: Ancorian
  • Tenant: Andrew Lacy - Prenuvo
  • Landlord's Representative: Chris Wadley & Madeline Cleary - JLL
  • Tenant's Representative: Walker Ryan & Kevin Klink - Colliers

The transaction involved Andrew Lacy representing Prenuvo as the tenant seeking space for their new healthcare facility. Chris Wadley and Madeline Cleary of JLL acted on behalf of the landlord, Ancorian, in the leasing process. Meanwhile, the interests of Prenuvo were represented by Walker Ryan and Kevin Klink from Colliers throughout this transaction.

Players

Chris Wadley

JLL

Broker

2 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