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6611 Portwest Drive, Housto...

Buchanan Street Partners Acquires Office/Industrial Property In Houston
SOLDOffice

Buchanan Street Partners Acquires Office/Industrial Property In Houston

6611 Portwest Drive, Houston, TX, USA

Building Size

176,864 SF

Asset Type

Office

Closing

Sep 1, 2021

AI

The property at 6611-6975 Portwest Dr in Houston has been sold in a recent transaction. The property is an office/industrial asset with a total square footage of 176,864. The sale took place on September 1, 2021.

Summary of transaction details

  • Property Type: Office/Industrial
  • Square Footage: 176,864
  • Transaction Date: 09/01/2021
  • Address: 6611-6975 Portwest Dr, Houston

The buyer of the property is Buchanan Street Partners, represented by Matt Haugen and Mark Oddo. The sale was facilitated by the brokers Trent Agnew, Rusty Tamlyn, Charlie Strauss, Lance Young, and Jack Britton from JLL.

Players

Charlie Strauss

JLL

Broker

30 deals

Broker
Buchanan Street Partners
Buchanan Street PartnersBrokerage

Matt Haugen

Buchanan Street Partners

Buyer

3 deals

Buyer
Buchanan Street Partners
Buchanan Street PartnersBuyer

Houston Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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