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609 Main St, Houston, TX, 7...

WeWork Leases Office Space At 609 Main St, Houston From Landlord Hines
LEASEDOffice

WeWork Leases Office Space At 609 Main St, Houston From Landlord Hines

609 Main St, Houston, TX, 77006

Building Size

56,000 SF

Asset Type

Office

Closing

Jul 9, 2019

AI

The office tower located at 609 Main St in Houston, TX, 77006 spans 1 million square feet and will soon be the home of a 56,000-square-foot coworking space. WeWork, the tenant leasing the space, will enjoy access to the building’s café and a 7,000-square-foot fitness center. The lease was brokered by Mark O’Donnell of Savills Commercial Real Estate, representing WeWork, and Michael Anderson and Damon Thames of Colvill Office Properties, representing the landlord, Hines.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Tenant: WeWork
  • Landlord: Hines
  • Square Feet: 56,000
  • Tenant's Rep: Mark O’Donnell(Savills)
  • Landlord's Rep: Michael Anderson and Damon Thames (Colvill Office Properties)

The upcoming coworking space at 609 Main St in Houston, TX, is the fourth location for WeWork in the city. With an expected opening in late 2019, the space will bring a vibrant coworking environment to downtown Houston, offering not just workspace but also additional amenities for its members to enjoy.

Players

Mark O’Donnell

Savills

Broker

5 deals

Broker
Hines
HinesLandlord
WeWork
WeWorkTenant

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