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13800 North Fwy Houston, TX...

Trammell Crow & Clarion Partners Lease Rankin 45 Distribution Center To UMOJA Supply Chain Solutions & Sungrow USA Corporation
LEASEDIndustrial

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

Joseph Smith

Friedman-Roth Realty

Broker

$46M

vol

11 deals

Broker
Clarion Partners
Clarion PartnersLender
Clarion Partners
Clarion PartnersLandlord

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