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
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