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:
- Property Type: Office
- Transaction Amount: Not provided
- Landlord: Hartman Income REIT Management
- Square Feet: 13,912
- Tenant: Amegy Bank of Texas
- Address: 400 North Sam Houston Pkwy E
- Market: Houston
- Landlord's Rep: Richard Maloof(Industry Partners), Rod Hale(Hartman Income REIT Management)
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
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