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9 East Greenway Plaza

Stephens Insurance Renews And Expands Office Lease At Nine Greenway Plaza In Houston With JLL Representing Tenant
LEASEDOffice

Stephens Insurance Renews And Expands Office Lease At Nine Greenway Plaza In Houston With JLL Representing Tenant

9 East Greenway Plaza

Building Size

35,454 SF

Asset Type

Office

Closing

Nov 13, 2023

AI

NINE GREENWAY PLAZA - HOUSTON, TX: Stephens Insurance, represented by JLL, has renewed and expanded its office lease at Nine Greenway Plaza in Houston. The lease now covers a total area of 35,454 square feet. Nine Greenway Plaza is an office building located at 9 East Greenway Plaza in Houston.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 9 East Greenway Plaza, Houston, TX
  • Market: Houston
  • Landlord: Parkway Properties
  • Tenant: Stephens Insurance - Warren A. Stephens
  • Landlord's Rep: Amanda Nebel & J.P. Hutcheson - Parkway Properties
  • Tenant's Rep: Anya Marmuscak & Don King - JLL

The lease renewal and expansion were facilitated by JLL, representing Stephens Insurance, while Parkway Properties internally represented the landlord. The specific details regarding the transaction amount and market value were not disclosed in the provided information.

Players

J.P. Hutcheson

Parkway Properties

Broker

9 deals

Broker
PP
Parkway PropertiesLandlord

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