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10511 Kipp Way St Houston, ...

Rymar USA Signs Long-Term Lease For 21,138 SF Industrial Space In Houston
LEASEDIndustrial

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

Chase McAteer

Oxford Partners

Broker

7 deals

Broker

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