WorkSuites Leases 19692 Square Feet At 77 Sugar Creek Center Boulevard Tenaha With Landlord Velocis
77 Sugar Creek Center BLVD, Sugar L...
Building Size
19,692 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
WorkSuites has leased 19,692 square feet at 77 Sugar Creek Center Blvd, located in the Tenaha market of Sugar Land, Texas. The property is situated within a Class A office building, which is notable for its modern facilities and strategic location.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 77 Sugar Creek Center Blvd, Sugar Land, Texas
- Market: Tenaha
- Tenant: WorkSuites
- Landlord: Velocis
- Square Feet: 19,692
- Tenant's Representatives: Dan Boyles-NAI Capital, Greg Burns-Cresa, John Pelletier-Cresa
- Landlord's Representative: Craig McKenna-Stream Realty Partners
- Brokers: Mathew Volz-Stream Realty
The lease agreement was executed with the representation of Dan Boyles and Michael Mannella of NAI Partners, alongside John Pelletier and Greg Burns of ESRP Advisory for the tenant, WorkSuites. Representing the landlord, Velocis, were Mat Volz and Craig McKenna from Stream Realty Partners. This transaction reflects the ongoing demand for flexible workspace solutions in the region.
Players
Tenaha 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