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15414 International Plaza D...

Evoqua Water Technologies Leases 107000 Square Feet From EastGroup Properties In Houston
LEASEDIndustrial

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:

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

David Buescher

JLL

Broker

$170.5K

vol

8 deals

Broker
CenterPoint Properties
CenterPoint PropertiesBrokerage
EastGroup Properties
EastGroup PropertiesLandlord

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