Benjamin Stephens Of Canyon Creek Real Estate Acquires Office Complex In West Houston
3600 West Sam Houston Parkway South & 3700 West Sam Houston Parkway South
Building Size
579,032 SF
Asset Type
Office
Closing
Jun 11, 2025
About this deal
AI
The office complex located at 3600 & 3700 West Sam Houston Parkway South encompasses 579,032 square feet on a site of 15.2 acres in Houston's Westchase area. The property features two buildings known as Westchase Park I and II. The transaction allows for potential capital upgrades to enhance the properties.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 579,032 SF
- Address: 3600 & 3700 West Sam Houston Parkway South
- Market: Houston
- Buyer: Benjamin Stephens
- Buyer's Company: Canyon Creek Real Estate
- Leasing Agent: Stream Realty Partners
- Acres: 15.2
Canyon Creek Real Estate, under the leadership of Benjamin Stephens, has acquired the properties with plans for capital improvements. The seller's identity was not disclosed in the transaction details.
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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