TelTech Communications Leases 198,854 Square Feet At 1901 Lakeside Pkwy From Black Creek Group
1901 Lakeside Pkwy, Flower Mound, T...
Building Size
198,854 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The industrial lease secured at 1901 Lakeside Parkway in Flower Mound involves a property that encompasses 198,854 square feet. The rear-load design of the facility includes features such as 32-foot clear heights, 180-foot truck courts, and provisions for 38 trailer parking spaces. The property, completed in 2019, is situated within the northern Fort Worth suburb, indicating its strategic location for logistics operations.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Address: 1901 Lakeside Pkwy, Flower Mound, Texas
- Market: Flower Mound
- Square Feet: 198,854
- Landlord: Black Creek Group
- Landlord's Representative: John Fulton - Transwestern
- Tenant: TelTech Communications
- Tenant's Representative: Tom Walrich - Lee & Associates
John Fulton and Brett Owens represented the landlord, Black Creek Group, while Tom Walrich acted on behalf of the tenant, TelTech Communications, during the lease negotiations. This transaction highlights the active participation of these professionals in facilitating the agreement between the involved parties.
Players
Flower Mound 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