Updated Dec 4, 2024
TV ELECTRIC Signs 5-Year Lease At 11953 Fm 529 Rd, Houston With Landlord The Texas Development Company
11953 Fm 529 Rd
Building Size
32,250 SF
Asset Type
Industrial
Closing
Apr 17, 2023
About this deal
AI
The Texas Development Company, represented by Mike Ferris, leased an industrial property located at 11953 Fm 529 Rd in Houston. The property spans approximately 32,250 square feet and was leased to TV ELECTRIC for a term of 5 years. The lease transaction was facilitated by brokers William Byrd and Patrick McKiernan of First Houston Properties.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 11953 Fm 529 Rd
- Market: Houston
Mike Ferris, representing The Texas Development Company, acted as the landlord in the lease deal. TV ELECTRIC is the tenant that entered into the lease agreement for the industrial property. William Byrd and Patrick McKiernan, from First Houston Properties, served as the brokers facilitating the transaction.
On the Map
Industrial
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Market 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