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1902 Cypress Station Dr, Ho...

McLane Global Leases Industrial Space In Houston To FCA For 284170 Sq Ft
LEASEDIndustrial

McLane Global Leases Industrial Space In Houston To FCA For 284170 Sq Ft

1902 Cypress Station Dr, Houston, TX...

Building Size

284,170 SF

Asset Type

Industrial

Closing

Feb 16, 2018

AI

The property asset involved is located at 1902 Cypress Station Dr, Houston, TX, with a total square footage of 284,170. This industrial asset is part of the Interstate Commerce Center (ICC), a master-planned office and logistics park in Houston. ICC features two buildings completed in 2015 and contains a total of 414,016 square feet, of which 85 percent is currently leased.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 1902 Cypress Station Dr, Houston, TX
  • Tenant: McLane Global
  • Landlord: FCA
  • Tenant's Representative: Patrick Rollins-CBRE
  • Landlord's Representative: Matteson Hamilton-Stream Realty Partners
  • Square Feet Occupied: 284,170

The lease renewal and expansion involves McLane Global fully occupying Building 2 of the Interstate Commerce Center. The project was developed by a joint venture between Copeland Commercial and Hillwood Investment Properties, marking Hillwood’s first development in Houston.

Players

Matteson Hamilton

Stream Realty Partners⁠

Broker

9 deals

Broker
FCA
FCALandlord

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