Updated Dec 4, 2024
New Jersey Automotive Distributor Preleases 185,413 SF Industrial Space In South Houston With Broker Reps Tyler Maner & Woody Hillyer
13612 Furman Road
Building Size
185,413 SF
Asset Type
Industrial
Closing
Nov 7, 2023
About this deal
AI
A New Jersey automotive parts distributor has preleased the 185,413-square-foot Vault Distribution Center in South Houston. The industrial property, located at 13612 Furman Road, is set to be completed by year-end. The lease was negotiated by Tyler Maner and Woody Hillyer of Stream Realty Partners, representing the landlord, Vault Partners. The tenant's representative remains undisclosed.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Provided
- Market: Houston
- Address: 13612 Furman Road
- Square Footage: 185,413
Josh Tillis is the landlord of the Vault Distribution Center. The deal was facilitated by Tyler Maner and Woody Hillyer, who work for Stream Realty Partners and represented Vault Partners, the landlord, in the lease negotiations. The tenant's representative remains undisclosed.
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Industrial
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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