Drilling Tools International Leases Industrial Property On Southcreek Lane In Houston
1612 Southcreek Lane, Houston, TX, USA
Building Size
27,150 SF
Asset Type
Industrial
Closing
Oct 29, 2021
AI
The industrial property located at 1612 Southcreek Lane in Houston has been leased. The property covers an area of 2.9 acres and has a total square footage of 27,150. The lease transaction took place on October 29, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Market: Houston
- Landlord: TRECAP Southcreek Partners
- Tenant: Drilling Tools International
- Landlord's Representative: Jason Tangen - Colliers International
- Tenant's Representatives: Ed Frantz, John Amini, & Boomer White - CBRE
The lease transaction was facilitated by Jason Tangen from Colliers International, representing the landlord, TRECAP Southcreek Partners. The tenant, Drilling Tools International, was represented by Ed Frantz, John Amini, and Boomer White from CBRE.
Players
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