Westpark @ 59 Office Plaza LLC Acquires 115,000 SF Office Building In Houston From Presidium Group
6260 Westpark Drive, Houston, TX 77057
Building Size
115,000 SF
Asset Type
Office
Closing
May 19, 2021
AI
The office property located at 6250 & 6260 Westpark Drive in Houston has been sold. Spanning 115,000 square feet, this asset was involved in a recent transaction. The sale took place on May 20, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 6250 & 6260 Westpark Drive, Houston
- Market: Houston
- Seller: Presidium Group - John Griggs
- Buyer: Westpark @ 59 Office Plaza LLC
- Brokers: Spencer Hough & Connor Darling - Newmark, Jim Autenreith & Stephen Ghedi - Moody Rambin
The seller in this transaction was the Presidium Group, represented by John Griggs. The buyer, Westpark @ 59 Office Plaza LLC, acquired the property. The brokers involved in this deal were Spencer Hough and Connor Darling from Newmark, along with Jim Autenreith and Stephen Ghedi from Moody Rambin.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale 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