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580 Westlake Park Blvd Hous...

LEASEDOffice

Hanwha Power Systems Leases 9,022 SF Office Space At 580 Westlake Park Blvd In Houston

580 Westlake Park Blvd Houston, TX 77079, USA

Building Size

9,022 SF

Asset Type

Office

Closing

Jun 1, 2023

AI

The lease transaction for the property located at 580 Westlake Park Boulevard in Houston has been completed. The asset, an office space spanning 9,022 square feet, was leased by Hanwha Power Systems Americas, Inc. from the landlord, Younan Properties - Two Westlake Park Owner.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 580 Westlake Park Boulevard, Houston
  • Market: Houston
  • Tenant: Hanwha Power Systems Americas, Inc.
  • Landlord: Younan Properties - Two Westlake Park Owner

Ryan Hartsell, a representative from Oxford Partners, acted as the broker for the tenant, Hanwha Power Systems Americas, Inc. The lease was negotiated on a turnkey basis with the landlord, Younan Properties, offering concessions. Michell Wogan and Evelyn Ward, representing Transwestern, served as the landlord's representatives in this deal.

Players

Ryan Hartsell

Oxford Partners

Broker

20 deals

Broker
YP
Younan PropertiesLandlord

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