Updated Oct 28, 2024
Reach Cooling Leases Industrial Space In Houston's Turning Basin District
2005 Turning Basin Drive, Houston, TX 77029
Building Size
27,502 SF
Asset Type
Industrial
Closing
Nov 18, 2021
About this deal
AI
The industrial property located at 2005 Turning Basin Drive in Houston was recently leased in a closed transaction. Spanning over 27,502 square feet, this property provides ample space for various industrial activities.
Summary of transaction details:
- Property Type: Industrial
- Transaction Date: 11/18/2021
- Market: Houston
- Square Footage: 27,502
The landlord, John Manville Company, successfully leased the property to Reach Cooling. Colliers, represented by Zack Taylor and Trey Horne, acted as the landlord's representatives in the deal. On the other hand, Mark Nicholas from Jones Lang LaSalle (JLL) served as the tenant's representative.
On the Map
Industrial
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Players
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