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77 Sugar Creek Center BLVD,...

WorkSuites Leases 19692 Square Feet At 77 Sugar Creek Center Boulevard Tenaha With Landlord Velocis
LEASEDOffice

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

Dan Boyles

Partners Real Estate

Broker

19 deals

Broker
Velocis
VelocisBrokerage

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