Wright Close & Barger LLC Leases 41000 SF Office At TC Energy Center In Houston
700 Louisiana Street
Building Size
41,000 SF
Asset Type
Office
Closing
Aug 7, 2025
AI
The property asset involved is an office space located at 700 Louisiana Street in Houston, encompassing a square footage of 41,000. The asset is situated in a market experiencing growth and development, with the building undergoing renovations to enhance amenities. The property is identified as the LEED Gold-certified TC Energy Center.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Kenneth Moczulski - M-M Properties
- Tenant: Wright Close & Barger LLC
- Landlord's Representative: John Spafford - CBRE
- Tenant's Representatives: Joshua Brown, Audrey Selber & Kaitlyn Duffie - Newmark
- Notable Lease: Wright Close & Barger signed a headquarters lease at TC Energy Center, relocating from One Riverway with a 60% larger footprint.
The deal involves notable individuals and companies, including Kenneth Moczulski, representing M-M Properties, and the team from Newmark, which consists of Joshua Brown, Audrey Selber, and Kaitlyn Duffie, representing Wright Close & Barger LLC in the transaction. John Spafford acted as the representative for the landlord, ensuring the negotiation of terms for the lease agreement.
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