Mears Group Leases Office Space From Rowan Cos On Westheimer Rd, Houston
5051 Westheimer Rd, Houston, TX, 77...
Building Size
7,800 SF
Asset Type
Office
Closing
Nov 15, 2016
AI
The property asset involved in this transaction is an office space located at 5051 Westheimer Rd, Houston, TX, encompassing a total of 7,800 square feet. The transaction took place within the Houston market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Specified
- Square Feet: 7,800
- Address: 5051 Westheimer Rd, Houston, TX
- Tenant: Mears Group
- Landlord: Rowan Cos
- Tenant's Representative: Matthew Dickson - Savills
- Landlord's Representatives: Scott Wegmann - Cushman & Wakefield
This leasing transaction involved the Mears Group expanding their operations, with representation from Matthew Dickson from Savills. The landlord, Rowan Cos, was represented by Scott Wegmann and Trey Strake from Cushman & Wakefield.
Houston Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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