Fluor Corporation Signs 12-Year Lease For Entire 308,000 SF Office Building In Houston
737 North Eldridge Parkway
Building Size
308,000 SF
Asset Type
Office
Closing
May 4, 2023
About this deal
AI
Fluor Corporation, a global engineering, procurement, and construction firm, has signed a 12-year lease to occupy the entire 13-story, 308,000-square-foot Three Eldridge building in Houston's Energy Corridor. The company plans to move its approximately 1,600 employees to the new location at 737 N. Eldridge Parkway in the second quarter of 2024, departing from its long-time office complex at Lake Pointe Plaza in Sugar Land.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not mentioned
- Square Footage: 308,000
- Address: 737 North Eldridge Parkway, Houston
- Market: Houston
The Three Eldridge building, located at 737 N. Eldridge Parkway in Houston's Energy Corridor, will now be leased by Fluor Corporation. The 13-story building spans an area of 308,000 square feet, providing ample space for the company's approximately 1,600 employees who will be relocating from their current office complex at Lake Pointe Plaza in Sugar Land.
Players
Texas Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
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