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16390 Park Row Dr, Houston,...

FMFV Warehousing Inc Leases 51824 Square Feet At 16390 Park Row Dr In Houston
LEASEDIndustrial

FMFV Warehousing Inc Leases 51824 Square Feet At 16390 Park Row Dr In Houston

16390 Park Row Dr, Houston, TX, 77084

Building Size

51,824 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property involved in this transaction is a single-tenant warehouse located at 16390 Park Row Drive, Houston, TX, 77084. The industrial lease covers an area of 51,824 square feet. The warehouse was constructed in 1978 and features 28-foot clear heights, three dock-high loading doors, and a parking ratio of 0.57 spaces per 1,000 square feet.

Summary of transaction details:

  • Property Type: Industrial Lease
  • Transaction Amount: Not Disclosed
  • Square Feet: 51,824
  • Address: 16390 Park Row Dr, Houston, TX, 77084
  • Market: Houston
  • Tenant's Representative: Jake Wilkinson - NAI Capital
  • Landlord's Representative: Darren O’Conor - NAI Capital
  • Landlord: FMFV Warehousing Inc
  • Tenant: Not Disclosed

Darren O’Conor and Jake Wilkinson of NAI Partners acted as the representatives for the landlord, FMFV Warehousing Inc., during the lease negotiations. The tenant has not been disclosed in this transaction.

Players

Darren O’Conor

Partners Real Estate

Broker

13 deals

Broker

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