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1612 Southcreek Lane, Houst...

Drilling Tools International Leases Industrial Property On Southcreek Lane In Houston
LEASEDIndustrial

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

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

Jason Tangen

Colliers

Broker

13 deals

Broker
TP
TRECAP Southcreek PartnersLandlord
DI
Drilling Tools InternationalTenant

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