Cobb, Fendley & Associates Leases 52,120-SF Office Space At Westway II, Houston
4424 West Sam Houston Parkway North
Building Size
52,120 SF
Asset Type
Office
Closing
Dec 6, 2023
AI
A Texas consulting firm, Cobb, Fendley & Associates, has signed a 10-year lease for a 52,120-square-foot office space at Westway II, located near Houston's Energy Corridor. The office space was leased through negotiations with CBRE. The property is situated at 4424 West Sam Houston Parkway North in Houston.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 52,120 SF
- Address: 4424 West Sam Houston Parkway North
- Market: Houston
Cobb, Fendley & Associates was represented by their associate, Monica Silver. Chip Colvill of Cushman & Wakefield acted as the representative for the landlord. The tenant's representation was provided by Abby Gustus Alford and Lucian Bukowski of CBRE. Kirksey was responsible for designing the space, while Arch-Con Corp. managed the build-out.
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