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
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