Private Investment Group Acquires 206362 SF Property At 6380 Rogerdale Rd In Houston
6380 Rogerdale Rd, Houston, TX, 77072
Building Size
206,362 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this transaction is Oak Park Office Center II, a two-story office building located at 6380 Rogerdale Rd, Houston, TX, 77072, within the Houston market. This building comprises a total of 206,362 square feet and is situated in the Oak Park business Park, strategically located at the intersection of Beltway 8 and Westpark Tollway. Currently, it is nearly 50% occupied by Men’s Warehouse, which uses the first floor as its headquarters.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Seller: Office Properties Income Trust
- Buyer: Private Investment Group
- Seller's Representative: Martin (Marty) Hogan & Jack Moody - JLL
- Square Footage: 206,362
A team from JLL Capital Markets, consisting of Kevin McConn, Marty Hogan, and Jack Moody, represented the seller in this transaction. The buyer is a private investment group based in Houston, further detailing the involvement of local entities in this property deal.
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