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301 Apache Trl

Cart.com Leases 766K SF Industrial Space In Terrell, Texas
LEASEDIndustrial

Cart.com Leases 766K SF Industrial Space In Terrell, Texas

301 Apache Trl

Building Size

766,000 SF

Asset Type

Industrial

Closing

Apr 26, 2023

AI

Cart.com, an Austin-based e-commerce fulfillment company, has signed a lease for 766,000 square feet of industrial space in Terrell, Texas. The property, located at 301 Apache Trl, is situated in the Eighty Twenty Crossing business park. It was previously used as a shipping center for tire manufacturer Goodyear and will now serve as Cart.com's shipping hub. The industrial space is in close proximity to U.S. Highway 80 and Interstate 20, providing convenient access for logistics operations.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Date: 04/26/2023
  • Address: 301 Apache Trl, Terrell, Texas
  • Market: Terrell
  • Square Footage: 766,000
  • Landlord: Proterra Properties (Dan Lawson)
  • Tenant: Cart.com
  • Landlord's Representative: Ken Wesson & Michael Giuliano (Lee & Associates)

The lease agreement was facilitated by Ken Wesson and Michael Giuliano from the Lee & Associates brokerage, representing Proterra Properties as the landlord's representatives. This transaction highlights Cart.com's expansion plans as they secure a significant amount of industrial space to support their e-commerce fulfillment operations in the Texas market.

Players

Ken Wesson

Lee & Associates

Broker

15 deals

Broker

North York 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