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15450 Diplomatic Plaza Dr H...

Weatherford Leases 125,120 SF Distribution Building In North Houston
LEASEDIndustrial

Weatherford Leases 125,120 SF Distribution Building In North Houston

15450 Diplomatic Plaza Dr Houston, Tx 77032, Usa

Building Size

125,120 SF

Asset Type

Industrial

Closing

Aug 22, 2023

AI

Global energy services company Weatherford International has leased a 125,120-square-foot distribution building located at 15450 Diplomatic Plaza Drive in North Houston. This lease allows Weatherford International to consolidate its Houston locations and aligns with the area's robust demand for distribution space and ongoing industrial developments.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 15450 Diplomatic Plaza Drive, North Houston
  • Market: North Houston
  • Square Footage: 125,120

The landlord of the property is Everwood Real Estate Partners, represented by William Peeples. Weatherford International, the tenant, was represented by Jim Stark and Wyatt McCulloch from CBRE. John Ferruzzo, Craig Bean, and Nick Peterson from Transwestern Real Estate Services acted as the landlord's representatives in the lease deal.

Players

John Ferruzzo

KBC Advisors

Broker

16 deals

Broker

La Belle 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