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12020 Barker Cypress Road

Maggie Hardy Leases 142,100 SF Industrial Space In Cypress, TX
LEASEDIndustrial

Maggie Hardy Leases 142,100 SF Industrial Space In Cypress, TX

12020 Barker Cypress Road

Building Size

142,100 SF

Asset Type

Industrial

Closing

Feb 27, 2024

AI

The industrial property located at 12020 Barker Cypress Road in Cypress, Texas, consists of a Class A distribution building spanning 142,100 square feet. The property was leased by tenant Maggie Hardy Magerko of 84 Lumber, the nation's largest private building materials supplier. The lease was facilitated by Wes Williams of Colliers and Conrad Bernard of Boyd Commercial, representing landlord Molto Properties, in the Northwest Houston market.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Landlord: Todd Naccarato - Molto Properties
  • Tenant: Maggie Hardy  - 84 Lumber
  • Brokers: Conrad Bernard - Boyd Commercial; Wesley Williams - Colliers International

Conrad Bernard of Boyd Commercial and Wesley Williams of Colliers International played crucial roles in overseeing the successful lease-up of the 142,100 square feet property at the Barker Cypress Distribution Center. The strategic location of the fully leased Class A building in Northwest Houston offers immense potential for tenant Maggie Hardy and reflects the expertise and collaboration of the brokers involved in the deal.

Players

Wesley Williams

Colliers

Broker

8 deals

Broker

Cypress 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