Christen Vestal Of Provident Realty Leases Industrial Space To Tenant Represented By Colliers In Baytown
16801 South Cotton Lake Road
$7
$7/SF
Building Size
255,960 SF
Asset Type
Industrial
Closing
Dec 16, 2024
AI
The property asset involved in this transaction is an industrial facility located at 16801 South Cotton Lake Road in the Baytown market. It encompasses a total square footage of 255,960 and is being leased at an asking rent of $7 per square foot. The lease has a term of 60 years and is structured as a single net lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7/ft
- Address: 16801 South Cotton Lake Road
- Market: Baytown
- Lease Term: 60 years
- Lease Type: Single Net Lease
- Landlord: Christen Vestal - Provident Realty
- Landlord's Rep: Justin Tunnel, Richard Glass & Trey Erwin III - Lee & Associates
- Tenant's Rep: Max Ellis, Ryan Byrd & Darren Ross - Colliers
The transaction involved several key individuals and companies. Christen Vestal served as the landlord representing Provident Realty, while the landlord's interests were represented by Justin Tunnel, Richard Glass, and Trey Erwin III from Lee & Associates. The tenant was represented by Max Ellis, Ryan Byrd, and Darren Ross from Colliers, highlighting the collaborative nature of this lease agreement.
Players
Mont Belvieu 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
2266142.86%
Cash-on-Cash
-647670.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93