Braun Enterprises Leases School At 2015 W 34th St In Houston
2015 W 34th St, Houston, TX, 77018
Building Size
1,253 SF
Asset Type
School
Closing
Nov 20, 2023
About this deal
AI
The property asset involves a 1,253-square-foot school located at 2015 W 34th St, Houston, TX, 77018. This property will serve as the first location for Code Wiz in Houston, a coding and robotics center designed for children ages 7 to 17. Code Wiz offers classes, camps, and competitions, with its first establishment launched in 2017 in Westford, Massachusetts, and has since expanded to 12 locations across the U.S. Braun Enterprises is the landlord of this asset.
Summary of transaction details:
- Property Type: School
- Transaction Amount: Not specified
- Square Feet: 1,253
- Address: 2015 W 34th St, Houston, TX, 77018
- Market: Houston
- Tenant's Representatives: Michael Burgower-Cushman & Wakefield, Michael Pittman II-Cushman & Wakefield, Michael Iino-Raise Commercial Real Estate
- Landlord's Representative: Harlan Simon-Brown Harris Stevens
- Landlord: Braun Enterprises
Michael Burgower and Michael “Mike” Pittman II from Cushman & Wakefield represented the tenant, Code Wiz, in negotiating the lease. Harlan Simon represented the landlord, Braun Enterprises. Code Wiz is planning to expand further within the Houston market, aiming to open additional locations in the near future.
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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