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17975 Interstate 35 North

Updated Dec 4, 2024

Bob Mills Furniture Leases 114,396 SF Industrial Space In Schertz Corporate Center
LEASEDIndustrial

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:

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

Eva Horton

Newmark

Broker

1 deal

Broker

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

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