Conn’s HomePlus Leases 656,658 SF At Central Green Distribution Center, Houston
1401 Rankin Rd, Houston, TX, 77073
Building Size
656,658 SF
Asset Type
Commercial
Closing
Nov 22, 2023
AI
The Central Green Distribution Center in north Houston, located at 1401 Rankin Rd, Houston, TX, 77073, has been leased by home furnishings and appliances retailer Conn’s HomePlus. The property, spanning 656,658 square feet, is owned by Liberty Property Trust. The center features 36-foot clear heights, 133 dock doors, and a building depth of 500 feet.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not specified
- Tenant's Rep: Rob Stillwell (Newmark)
- Landlord: Liberty Property Trust
- Square Feet: 656,658
Rob Stillwell and Chris Malherbe of NKF Capital Markets represented Conn’s HomePlus in the lease negotiations. Conn’s, headquartered in The Woodlands, a master-planned community north of Houston, will be the sole occupant of the Central Green Distribution Center.
Players
Houston Commercial Market Snapshot
Boundary boundary · Commercial · 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