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11301 Northwest 97th Avenue

Garland Food Signs 15-Year Lease For 175,255 SF Industrial Space In Medley With Jeffrey Hecktman As Landlord
LEASEDIndustrial

Garland Food Signs 15-Year Lease For 175,255 SF Industrial Space In Medley With Jeffrey Hecktman As Landlord

11301 Northwest 97th Avenue

Building Size

175,255 SF

Asset Type

Industrial

Closing

May 12, 2025

AI

The property asset involved in this transaction is an industrial facility located at 11301 Northwest 97th Avenue in Medley. The asset encompasses a total square footage of 175,255. The landlord for this lease is Jeffrey Hecktman from Hilco, while the tenant, Garland Food, will be utilizing the space primarily for a garlic-focused food processing facility.

Summary of transaction details:

The transaction details reveal that Garland Food intends to move into 141,314 square feet of the leased space in late 2025, following $15 million in improvements. The company plans to expand into the remaining area by early 2027.

Players

Nick Wigoda

Stream Realty Partners⁠

Broker

$200.2M

vol

21 deals

Broker

Medley Industrial Market Snapshot

Boundary boundary · Industrial · 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