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
About this deal
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.
On the Map
Office
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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