George Pontikes Jr. Acquires 63,693 SF Office Building In West Houston
11000 Equity Drive
Building Size
63,693 SF
Asset Type
Office
Closing
Jun 20, 2024
About this deal
AI
An office building spanning 63,693 square feet located at 11000 Equity Drive in Houston, Texas has been sold. The property, classified as a Class A office space, is situated in West Houston near the Sam Houston Parkway. It offers modern amenities and convenient access to various key areas in Houston.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Buyer: George Pontikes Jr. - Satterfield & Pontikes Construction
- Brokers: Jeff Hollinden & Rick Goings - JLL
The sale was facilitated by JLL Capital Markets on behalf of the seller. Satterfield & Pontikes Construction, represented by George Pontikes Jr., acquired the office building with plans to fully occupy the space. The location of the property, within Westway Park, offers strategic access to various employment centers, residential areas, as well as dining and entertainment options in Houston.
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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