Bradley Freels' Midway Leases 200,000 SF To Dow Chemical In Houston
903 Town and Country Boulevard
Building Size
200,000 SF
Asset Type
Office
Closing
Feb 23, 2024
AI
The property involved in the lease transaction is a 200,000 square feet office space located at 903 Town and Country Boulevard in Houston. The landlord, Bradley Freels of Midway, has leased this space to The Dow Chemical Company, represented by tenant Jim Fitterling. The deal was facilitated by broker Michael Anderson of Cushman & Wakefield. Dow Chemical Company plans to move from its current location at the Plaza at Enclave to CityCentre Six upon its completion in 2026.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Market: Houston
Midway, the landlord, has leased a significant 200,000 square feet of office space in CityCentre Six to The Dow Chemical Company. The Dow Chemical Company, led by Jim Fitterling, will be relocating from their current space at the Plaza at Enclave to the new premises upon its completion in 2026. This move signifies a strategic decision for Dow as they transition to a new office space facilitated by Bradley Freels of Midway and broker Michael Anderson of Cushman & Wakefield.
Players
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