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
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