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845 Texas Avenue

Clifford Chance Leases 60,000 SF Office Space At The Square At Texas Tower, Houston
LEASEDOffice

Clifford Chance Leases 60,000 SF Office Space At The Square At Texas Tower, Houston

845 Texas Avenue

Building Size

60,000 SF

Asset Type

Office

Closing

Nov 17, 2023

AI

Law firm Clifford Chance is expanding its Houston presence in The Square at Texas Tower, leasing 60,000 square feet across two floors. The property, located at 845 Texas Avenue in Houston, is an office space with a total area of 60,000 square feet. The lease transaction involves Clifford Chance, a renowned law firm, securing space in the building for their Houston office.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 845 Texas Avenue, Houston
  • Market: Houston
  • Tenant: Clifford Chance - Charles Adams
  • Landlord: Hines - Laura Hines-Pierce; Ivanhoé Cambridge - Nathalie Palladitcheff
  • Brokers: Chad Beck & Michael Anderson - Cushman & Wakefield

Clifford Chance's expansion in Houston demonstrates their commitment to the city's legal market. The move to The Square at Texas Tower follows the recent opening of Clifford Chance's Houston office within the building. The property, which has achieved Platinum status across multiple certifications, provides an ideal location for the law firm's operations.

Players

Chad Beck

Cushman & Wakefield

Broker

2 deals

Broker

York 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