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400 North Sam Houston Pkwy ...

Hartman Income REIT Renews Amegy Bank Lease For 13,912 SF In Houston
LEASEDOffice

Hartman Income REIT Renews Amegy Bank Lease For 13,912 SF In Houston

400 North Sam Houston Pkwy E, Hous...

Building Size

13,912 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The office property located at 400 North Sam Houston Pkwy E in Houston, owned by Hartman Income REIT Management, recently secured a lease for 13,912 square feet. The tenant, Amegy Bank of Texas, renewed their lease for five years in this prime office space.

Summary of transaction details:

The office lease transaction was facilitated by the internal representation of Hartman Income REIT Management, with Rod Hale and Richard Maloof playing key roles in securing the deal with Amegy Bank of Texas. The renewal of the 13,912-square-foot lease signifies a continued partnership between the landlord and tenant in the Houston market.

Players

Richard Maloof

Industry Partners

Broker

$16.9M

vol

8 deals

Broker
HI
Hartman Income REIT Management, IncLandlord

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