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845 Texas Avenue

Skadden, Arps, Slate, Meagher & Flom LLP Signs Long-Term Lease At Texas Tower In Houston
LEASEDOffice

Skadden, Arps, Slate, Meagher & Flom LLP Signs Long-Term Lease At Texas Tower In Houston

845 Texas Avenue

Building Size

52,000 SF

Asset Type

Office

Closing

Mar 14, 2025

AI

The property asset involved in the transaction is an office space located at 845 Texas Avenue in Houston. This asset encompasses a square footage of 52,000 and is part of the Texas Tower high-rise, which boasts a total area of 1 million square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Long-term lease
  • Address: 845 Texas Avenue
  • Market: Houston
  • Landlord: Laura Hines-Pierce - Hines, Nathalie Palladitcheff - Ivanhoé Cambridge
  • Tenant: Skadden, Arps, Slate, Meagher & Flom LLP
  • Landlord's Representative: Michael Anderson - Cushman & Wakefield
  • Tenant's Representative: Mark O’Donnell - Savills

Skadden, Arps, Slate, Meagher & Flom LLP will be moving into the leased space in April 2026. The transaction brokered by Savills and Cushman & Wakefield contributes to achieving 99% occupancy for the Texas Tower high-rise.

Players

Mark O’Donnell

Savills

Broker

5 deals

Broker
Laura Hines-Pierce

Laura Hines-Pierce

Hines

Landlord

$3.8B

vol

36 deals

Landlord
Ivanhoé Cambridge
Ivanhoé CambridgeLandlord

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