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13612 Furman Road

New Jersey Automotive Distributor Preleases 185,413 SF Industrial Space In South Houston With Broker Reps Tyler Maner & Woody Hillyer
LEASEDIndustrial

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

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.

Players

Woody Hillyer

Stream Realty Partners⁠

Broker

4 deals

Broker

Black River 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