Updated Dec 4, 2024
Bob Mills Furniture Leases 114,396 SF Industrial Space In Schertz Corporate Center
17975 Interstate 35 North
Building Size
114,396 SF
Asset Type
Industrial
Closing
Jun 24, 2024
About this deal
AI
Located at 17975 Interstate 35 North in Schertz, the industrial property spans 114,396 square feet. PV Shertz LLC served as the landlord, entering into a lease agreement with Bob Mills Furniture, marking the renowned furniture retailer's ninth location in Texas and twelfth nationwide.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Tenants: Bob Mills Furniture
- Landlord: PV Shertz LLC
- Tenant's Representative: Eva Horton & Stewart Skloss - Newmark
- Landlord's Representative: Joe Simmons - Aquila Commercial
Joe Simmons of Aquila Commercial represented the landlord, PV Shertz LLC, while Bob Mills Furniture was represented by Eva Horton and Stewart Skloss from Newmark in securing this significant 114,396-square-foot lease in Schertz. The space, situated within the Schertz Corporate Center, includes retail showroom space and aligns with the expansion strategy of Bob Mills Furniture, a well-established player in the furniture retail industry.
Players
Schertz 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