McGuireWoods Signs Lease For 30,000 SF Office Space At 845 Texas Avenue In Houston
845 Texas Avenue, Houston, TX, USA
Building Size
30,000 SF
Asset Type
Office
Closing
Aug 3, 2020
About this deal
AI
The recently closed property transaction in Houston involves an office space located at 845 Texas Avenue, spanning approximately 30,000 square feet. The property, managed by Hines represented by John Mooz and Ivanhoé Cambridge, has been leased to McGuireWoods. The leasing deal was finalized on August 3, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Date: 08/03/2021
- Address: 845 Texas Avenue
- Market: Houston
- Square Footage: 30,000
Colliers, represented by Bob Parsley, Darren Gowell, and Taylor Wright, served as the tenant's representatives, facilitating the lease agreement with McGuireWoods. On the other hand, Michael Anderson represented Hines as the landlord's representative, negotiating the terms of the lease on behalf of John Mooz and Ivanhoé Cambridge.
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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