Group 1 Automotive Signs 45,330 Sq Ft Office Lease In Houston
730 Town and Country Boulevard
Building Size
45,330 SF
Asset Type
Office
Closing
Nov 8, 2023
About this deal
AI
Car dealership Group 1 Automotive has signed a 45,330-square-foot office lease in the under-construction Town Centre Two building in West Houston. The building is 68% preleased and is set to be completed by year-end.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 45,330
- Address: 730 Town & Country, Houston
Moody Rambin, represented by Robert O. Cromwell II, served as the landlord for this lease. Group 1 Automotive was represented by Daryl Kenningham as their tenant. Bob Cromwell and Kevin Nolan, from Moody Rambin, acted as the landlord's representatives. The tenant, Group 1 Automotive, had their representation provided by Andy Iversen, Audrey Selber, and Joshua Brown from Newmark.
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