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16802 Barker Springs Road

Oxford Partners Secures Groninger Cleaning Systems' Industrial Lease Renewal And Expansion On Barker Springs Road In Houston
LEASEDIndustrial

Oxford Partners Secures Groninger Cleaning Systems' Industrial Lease Renewal And Expansion On Barker Springs Road In Houston

16802 Barker Springs Road & 16810 Barker Springs Road

Building Size

28,456 SF

Asset Type

Industrial

Closing

Oct 20, 2023

AI

The industrial property located at 16802-16810 Barker Springs Road in West Houston has recently undergone a lease renewal and expansion. The property spans a total of 14,228 square feet and is owned by BPREP Park 10 LLC.

Summary of transaction details

In this transaction, Groninger Cleaning Systems, a tenant company, has engaged in a lease renewal and expansion of the industrial space. The deal was brokered by Ryley Caton from Oxford Partners, who represented the tenant, and Carter Holmes from Cushman & Wakefield, who served as the landlord's representative. This lease renewal and expansion was successfully facilitated by Oxford Partners, a local brokerage firm, providing their expertise in negotiating the terms of the lease agreement.

Please note that Oxford Partners played a crucial role in brokering this 14,228-square-foot industrial lease renewal and expansion at 16802-16810 Barker Springs Road in West Houston, with Cushman & Wakefield representing the landlord and Groninger Cleaning Systems as the tenant.

Players

Carter Holmes

Cushman & Wakefield

Broker

3 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