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:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Square Feet: 125,000
- Address: 10901 Tanner Rd, Houston, TX, 77041
- Market: Houston
- Tenant: Shaffer Sports & Events
- Landlord: Exeter 10901 Tanner LP
- Tenant's Representative: Gary Mabray, Colliers International
- Landlord's Representatives: David Boyd, Greg Barra, Boyd Commercial CORFAC International
- Brokers: John Parsley, Colliers International
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
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