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1631 Gillingham Lane

Circle Clothing Leases 37,000 SF Industrial Space In Sugar Land Corporate Center
LEASEDIndustrial

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.

Players

Jarret Venghaus

JLL

Broker

5 deals

Broker
Prologis
PrologisBrokerage
Prologis
PrologisLandlord

Sugar Land 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