Moss Adams Renews Lease For 21,118 SF At Houston's Allen Center
500 Dallas St Houston, TX 77002, USA
Building Size
21,118 SF
Asset Type
Office
Closing
Jul 10, 2023
AI
Moss Adams has renewed its lease for a 21,118 square foot office space in Houston's Allen Center. The lease agreement will last until 2035. The accounting firm has chosen a new location within the recently renovated office complex, which is located at 500 Dallas Street in Houston.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not provided
- Address: 500 Dallas Street
- Market: Houston
- Tenant: Moss Adams - Kenny Grace
- Landlord: Brookfield Properties
- Brokers: Bubba Harkins, Russell Hodges, Jessica Ochoa, Kevin Kushner & William Padon - CBRE
This lease renewal deal involved Moss Adams, a renowned accounting firm, and Brookfield Properties, the landlord of the Allen Center office complex. The lease will allow Moss Adams to continue operating in a 21,118 square foot space until 2035. The accounting firm made the decision to relocate within the recently renovated office complex, indicating their satisfaction with the quality of the property.
Players
Texas 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