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JT Logistics Signs 5-Year Lease At Centre Point 20/35 In Desoto, TX With Growe Real Estate Partners

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LEASED
Mike Darling
Jett Jones

Texas

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Industrial351,000 SF
Leased 06/30/2023
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LEASED

JT Logistics Signs 5-Year Lease At Centre Point 20/35 In Desoto, TX With Growe Real Estate Partners

1600 N Polk St DeSoto, TX 75115, USA

See Similar Deals
Industrial351,000 SF
Leased 06/30/2023
Mike Darling
Jett Jones
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:351,000 SF
Transaction Type:Lease

The industrial property located at 1600 North Polk Street in Desoto, TX has been leased. The property spans an area of 351,000 square feet and is owned by GLP. The tenant, JT Logistics, has secured a 5-year lease at the Centre Point 20/35 building.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Date: 06/30/2023
  • Address: 1600 North Polk Street
  • Market: Desoto, TX
  • Landlord: GLP
  • Tenant: JT Logistics
  • Tenant's Representative: Mike Darling & Jett Jones - Growe Real Estate Partners
  • Lease Term: 5 years

Mike Darling and Jett Jones from Growe Real Estate Partners represented JT Logistics in this deal. The lease agreement allows JT Logistics to establish a presence in a new market, while also enabling Daiso to expand their operations within the building over the term. Notably, Daiso will fulfill all their DFW locations from this site.

Players

Mike Darling
Mike Darling
2 deals$2.7M volume(806) 632-4672
BROKER
Jett Jones
Jett Jones
1 deal(806) 632-4672
BROKER
G
GLP
LANDLORD

Details

LEASED
IMAGE: Mike Darling & Jett Jones DATE: 06/30/2023 ADDRESS: 1600 North Polk Street MARKET: Desoto, TX ASSET TYPE: Industrial~ SF: 351,000 LANDLORD: GLP TENANT: JT Logistics TENANT'S REP: Mike Darling (@Mike_Darling) & Jett Jones (@Jett3Jones) - Growe Real Estate Partners LEASE TERM: 5 year NOTE FROM TENANT'S REP: Mike and Jett represented JT Logistics (who worked with Flexe and Daiso) to secure a full building deal at Centre Point 20/35 on a 5yr term. JT Logistics now plants a flag in a new market, while allowing Daiso (who will be fulfilling to all their DFW locations out of this site) to grow their footprint in the building over the term.

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Deal Type
Effective Rent (Annual)

$20,119,108.19

Total Lease Value

$201,191,081.92

Net Landlord Cash Flow$20,119,108.19