CJ Logistics America Leases 1.1 Million Square Foot Warehouse In Wilmer Texas From Logistics Property Co
1900 Southport Parkway
Building Size
1,100,000 SF
Asset Type
Industrial
Closing
Dec 12, 2024
AI
1900 Southport Parkway is an industrial property located in Wilmer, TX, encompassing a total size of 1,100,000 square feet. The property is part of a 252-acre development owned by Logistics Property Co.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1900 Southport Parkway
- Market: Wilmer, TX
- Landlord: Logistics Property Co.
- Tenant: Kevin Coleman - CJ Logistics America
- Landlord's Representatives: Max Mueller, Daniel Davidson, J.C. Hay, Jonathan Snow - Logistics Property Co; John Hendricks & Kacy Jones - CBRE
- Tenant's Representatives: Melissa Holland, Rob Wheeler, Trevor Ragsdale & JM Priddy - JLL
The lease transaction has facilitated CJ Logistics America in occupying a significant warehouse space within the Southport Logistics Park. The teams from JLL and CBRE were instrumental in representing the tenant and landlord during this lease arrangement, marking a key development for both parties in the logistics real estate sector.
Players
Wilmer 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