Jordan Wean Of Denholtz Properties Leases 31,760 SF To OTC Industrial Technologies In San Marcos
1603 Clovis R. Barker Road
Building Size
31,760 SF
Asset Type
Industrial
Closing
Dec 5, 2024
AI
An industrial property measuring 31,760 square feet is located at 1603 Clovis R. Barker Road in the San Marcos market. This property is part of Clovis Crossing, a newly constructed industrial facility encompassing a total of 213,125 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Jordan Wean - Denholtz Properties
- Tenant: Bill Canady - OTC Industrial Technologies
- Landlord's Representative: Bailey Sousa, Carter Thurmond & Nash Frisbie - Transwestern
- Tenant's Representative: Chase Clancy, Nolan Babb, Travis Hicks, Shane Woloshan & Michael Modesett - Colliers
This lease agreement was signed to facilitate OTC Industrial Technologies' expansion in the filtration division. The space will be utilized for the warehousing and distribution of industrial and HVAC filters.
Players
San Marcos 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