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10901 Tanner Rd, Houston, T...

Shaffer Sports & Events Leases 125000 Square Feet At 10901 Tanner Rd Houston With David Boyd
LEASEDIndustrial

Shaffer Sports & Events Leases 125000 Square Feet At 10901 Tanner Rd Houston With David Boyd

10901 Tanner Rd, Houston, TX, 77041

Building Size

125,000 SF

Asset Type

Industrial

Closing

Dec 9, 2019

AI

The property involved in this transaction is a 125,000-square-foot industrial space located at 10901 Tanner Road in Houston, TX, 77041, within the Houston market. This leased space will be utilized as the primary warehouse and office headquarters for Shaffer Sports & Events, which specializes in providing furniture and tents for sporting events.

Summary of transation details:

This lease agreement represents a significant relocation for Shaffer Sports & Events from Birmingham, Alabama. The deal was negotiated with the help of brokers from Colliers International, while the landlord's interests were overseen by representatives from Boyd Commercial. Additionally, Shaffer's sister company, Aztec Events & Tents, secured a separate lease renewal in Houston, with the same Colliers team representing them in that negotiation.

Players

David Boyd

Broker

3 deals

Broker
Exeter Property Group
Exeter Property GroupLandlord

Houston 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