Trammell Crow & Clarion Partners Lease Rankin 45 Distribution Center To UMOJA Supply Chain Solutions & Sungrow USA Corporation
13800 North Fwy Houston, TX 77090, USA
Building Size
355,686 SF
Asset Type
Industrial
Closing
Aug 31, 2023
AI
The Rankin 45 Distribution Center in Houston, located at 13800 North Freeway, has been fully leased to UMOJA Supply Chain Solutions and Sungrow USA Corporation. The total lease space covers an impressive 355,686 square feet, spread across 22.5 acres in the North Houston Industrial submarket. The distribution center is conveniently situated less than two miles from Houston's Beltway 8.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Square Footage: 355,686
- Address: 13800 North Freeway
- Market: Houston
The leasing deal was brokered by the following representatives: on the landlord's side, Joseph Smith and Faron Wiley of CBRE, representing Trammell Crow Company and Clarion Partners. On the tenant's side, Geoff Perrott and Jeff Venghaus of JLL, Matt Knafel of KWILL Advisors, and Michael Foreman and Beau Kaleel of Cushman & Wakefield handled the transaction.
Players
Houston 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