Evoqua Water Technologies Leases 107000 Square Feet From EastGroup Properties In Houston
15414 International Plaza Dr, Houston...
Building Size
107,000 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 15414 International Plaza Drive in Houston. It encompasses a total of 107,000 square feet of industrial space, built in 1999. The facility features 24-foot clear heights, 22 dock-high doors, and 16,000 square feet of office space. Evoqua Water Technologies, previously occupying approximately 45,000 square feet within the park, will consolidate three Houston-area locations into this expanded space by the fourth quarter.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Address: 15414 International Plaza Dr, Houston
- Market: Houston
- Tenant: Evoqua Water Technologies
- Landlord: EastGroup Properties
- Tenant's Representative: David Buescher, Geoff Perrott - JLL
- Landlord's Representative: Logan Greer - Insight Realty Group
- Square Feet: 107,000
The key individuals involved in the lease negotiations for this transaction include David Buescher and Geoff Perrott, who represented Evoqua Water Technologies, while Logan Greer represented EastGroup Properties. This lease expansion reflects Evoqua's strategic move to centralize its operations within Houston.
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