Circle Clothing Leases 37,000 SF Industrial Space In Sugar Land Corporate Center
1631 Gillingham Lane
Building Size
37,000 SF
Asset Type
Industrial
Closing
Oct 27, 2023
AI
The industrial property located at 1631 Gillingham Lane in Sugar Land, Texas, has been leased in a transaction facilitated by Colliers International. The property spans 37,000 square feet and is situated in the Sugar Land Corporate Center, a market with limited availability of spaces of this size. The tenant, Circle Clothing, has found a suitable location that meets their needs.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Address: 1631 Gillingham Lane
- Market: Sugar Land
- Square Footage: 37,000
The tenant, Circle Clothing, was assisted by Jim Pratt of Colliers International in securing the lease for the industrial warehouse space. The landlord, Prologis Texas III, was represented by Jarrett Venghaus and Jordan Raney from JLL. Colliers International played a crucial role in finding a suitable space for Circle Clothing in a challenging market with limited options of this size.
Sugar Land Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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