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1285 Akron Way, Forney, TX,...

Hayes Co. Leases 712900 Square Feet At 1285 Akron Way Forney With Landlord Hunt Southwest
LEASEDIndustrial

Hayes Co. Leases 712900 Square Feet At 1285 Akron Way Forney With Landlord Hunt Southwest

1285 Akron Way, Forney, TX, 75126

Building Size

712,900 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property involved in this transaction is a 712,900-square-foot industrial lease located at 1285 Akron Way, Forney, TX, 75126, in the Forney market. It is part of the Gateway East Trade Center, which occupies 44.9 acres and features 40-foot clear heights, four drive-in doors, 266 car parking spaces (expandable to 439), and 151 trailer parking spaces (expandable to 226). The single-tenant, cross-dock building was delivered earlier this year by Hunt Southwest.

Summary of transaction details:

  • Property Type: Industrial Lease
  • Transaction Amount: Not specified
  • Address: 1285 Akron Way, Forney, TX, 75126
  • Market: Forney
  • Tenant: Hayes Co.
  • Landlord: Hunt Southwest
  • Tenant's Rep: Conrad Madsen III
  • Landlord's Rep: Kurt Griffin-JLL

Conrad Madsen III and Greg Nelson from Paladin Partners represented the Kansas-based logistics firm Hayes Co. in the lease negotiations. On the landlord's side, Kurt Griffin, Nathan Orbin, and Stuart Smith from Cushman & Wakefield represented Hunt Southwest in this transaction.

Players

Conrad Madsen III

Broker

1 deal

Broker
HS
Hunt SouthwestLandlord

Forney 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