Rymar USA Signs Long-Term Lease For 21,138 SF Industrial Space In Houston
10511 Kipp Way St Houston, TX 77099, USA
Building Size
21,138 SF
Asset Type
Industrial
Closing
Jun 1, 2023
AI
The industrial property located at 10511 Kipp Way Street in Houston, Texas has been leased. The property spans a total of 21,138 square feet and is situated in the Beltway 8 Business Park.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Address: 10511 Kipp Way Street, Houston, TX
- Market: Houston
- Landlord: Seals Kipp Way Street - Derrick Jones
- Tenant: Rymar USA
- Brokers: Ryan Hartsell & Chase McAteer - Oxford Partners
Rymar USA, a Canadian company, has secured a long-term lease for their first location in Texas. The decision to choose the Beltway 8 Business Park as their ideal location was influenced by its prime positioning. Representing the tenant, Rymar USA, in the lease negotiations were Ryan Hartsell and Chase McAteer from Oxford Partners. On the other side, Derrick Jones with Sealy and Company acted as the landlord's representative.
Players
Texas 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