EDF Leases 60000 Sq Ft Office Space At 601 Travis St, Houston
601 Travis St, Houston, TX, 77002
Building Size
60,000 SF
Asset Type
Office
Closing
Aug 7, 2017
AI
The office property located at 601 Travis St in Houston, TX, offers a total of 407,896 square feet of space, with EDF set to occupy 60,000 square feet. The building was designed by architect I.M. Pei and is situated in the central business district of the city.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: EDF
- Tenant's Rep: Kevin Kushner(CBRE), Matthew Dickson(Savills)
- Landlord: Hariri Interests
- Landlord's Rep: Paula Bruns(Colvill Office Properties)
- Other Tenants: Dynegy, Bank of New York Mellon, NextEra
CBRE's Matt Dickson and Kevin Kushner represented EDF in the lease negotiations with Hariri Interests for the space at 601 Travis St. Paula Bruns and Michael Anderson from Colvill Office Properties acted as representatives for the landlord. EDF's decision to move to this location was driven by the need for a trading floor that could accommodate high density, demonstrating a significant investment in the city by the company.
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