Tom Whelan Of Lee & Associates Arranges Industrial Leases In Beltsville, MD
10511 Tucker St, Beltsville, MD, 20705
Building Size
29,688 SF
Asset Type
Industrial
Closing
Jan 31, 2018
AI
The industrial property located at 10511 Tucker St, Beltsville, MD, 20705, was part of a lease transaction involving SRS Distribution, a Texas-based national supplier of roofing and building materials. The lease encompassed 29,688 square feet in the Beltsville market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Tenant's Rep: Tom Whelan (Lee & Associates)
- Landlord: FCA
- Square Feet: 29,688
The lease transaction was facilitated by Tom Whelan, principal for Lee & Associates Maryland, representing SRS Distribution. This lease was one of three signed by SRS Distribution in the Washington, D.C.-Baltimore metropolitan region, totaling more than 87,000 square feet. The other two leases were for properties at 7455 Lake Drive in Baltimore and 6809 Bowman’s Crossing in Frederick. These warehouse leases were secured to support SRS Distribution’s regional office in Chantilly, Va.
Players
Beltsville 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