Sable Offshore Co. Leases 46500 Square Feet At Texas Tower In Downtown Houston
845 Texas Avenue
Building Size
—
Asset Type
Office
Closing
Dec 10, 2024
About this deal
AI
The property involved in this lease transaction is an office asset located at 845 Texas Avenue in Houston. The asset encompasses a total of 46,500 square feet and is situated on the 28th and 29th floors of the 47-story Texas Tower. Occupancy is anticipated by Q3 2024.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 845 Texas Avenue
- Market: Houston
- Landlord: Laura Hines-Pierce - Hines, Nathalie Palladitcheff - Ivanhoé Cambridge
- Tenant: James C. Flores - Sable Offshore Co.
- Landlord's Representative: Michael Anderson - Cushman & Wakefield
- Tenant's Representatives: Kevin Kushner, Sydnee Hilburn & William Padon - CBRE
Sable Offshore Co. will lease the specified space within the Texas Tower with the representation handled by Kevin Kushner, Sydnee Hilburn, and William Padon of CBRE. The landlord's interests are represented by Michael Anderson from Cushman & Wakefield, working in partnership with Hines, Ivanhoé Cambridge, and CDPQ.
On the Map
Office
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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