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
- Property Type: Industrial
- Transaction Date: 10/20/2023
- Address: 16802-16810 Barker Springs Road
- Market: Houston
- Tenant: Groninger Cleaning Systems
- Landlord: BPREP Park 10 LLC
- Landlord's Representative: Carter Holmes - Cushman & Wakefield
- Tenant's Representative: Ryley Caton - Oxford Partners
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
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