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16801 South Cotton Lake Road

Christen Vestal Of Provident Realty Leases Industrial Space To Tenant Represented By Colliers In Baytown
LEASEDIndustrial

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:

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

Ryan Byrd

Colliers

Broker

3 deals

Broker

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