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601 Travis St, Houston, TX,...

EDF Leases 60000 Sq Ft Office Space At 601 Travis St, Houston
LEASEDOffice

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:

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

Kevin Kushner

CBRE

Broker

9 deals

Broker

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