SOLDOffice
David Carter Of Colliers Represents Seller In Sale Of 675 Bering Drive Office In Houston
675 Bering Drive
Building Size
135,641 SF
Asset Type
Office
Closing
Feb 25, 2025
AI
675 Bering Drive is a 135,641 SF office building located in Houston’s Galleria/Uptown submarket. The property has recently been sold, marking a significant transaction in the Houston market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 675 Bering Drive
- Market: Houston
- Broker: David Carter - Colliers
David Carter from Colliers represented the seller in this transaction, noting the strong investor interest in well-located office assets due to ongoing demand in the area.
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