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10550 Westheimer Rd, Housto...

FedEx Office Leases Retail Space On 10550 Westheimer Rd, Houston, TX
LEASEDRetail

FedEx Office Leases Retail Space On 10550 Westheimer Rd, Houston, TX

10550 Westheimer Rd, Houston, TX, 7...

Building Size

3,800 SF

Asset Type

Retail

Closing

Nov 20, 2023

AI

The retail property located at 10550 Westheimer Road in Houston, Texas, spanning 3,800 square feet, has been leased to FedEx Office for a duration of 10 years. Lunden McGill of Baker Katz facilitated the lease agreement on behalf of the tenant, while Chace Henke of Edge Capital Markets represented the owner in the negotiations.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Tenant: FedEx Office
  • Tenant's Rep: Lunden McGill (Baker Katz)
  • Landlord: Not disclosed
  • Square Feet: 3,800

In a separate deal in Pasadena, approximately 15 miles southeast of Houston, another lease was secured for FedEx Office by Lunden McGill. This lease spans 1,800 square feet for a period of five years and is located at 3425 Spencer Highway. Representing the building owner in this transaction was Brian Ellisor of Red Oak Commercial. FedEx Office, known for providing shipping, printing, copying, and binding services, finds a new outlet in both Houston and Pasadena.

Players

Lunden McGill

Baker Katz

Broker

1 deal

Broker
FO
FedEx OfficeTenant

Houston Retail Market Snapshot

Boundary boundary · Retail · Lease 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