Updated Oct 29, 2024
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
About this deal
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.
On the Map
Industrial
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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