Paton Engineers & Constructors Leases 24,150 Square Feet Industrial Space In Pasadena Texas
218 North South Street
Building Size
24,150 SF
Asset Type
Industrial
Closing
May 5, 2026
AI
The property involved in this transaction is an industrial asset located at 218 North South Street in Pasadena, Texas. The total square footage of the property is 24,150. The market for this property is noted as Pasadena, highlighting its location in a desirable area for industrial operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 218 North South Street
- Market: Pasadena
- Tenant: Paton Engineers & Constructors
- Brokers: Jason Gibbons & Tyler Holt - Finial Group
Finial Group represented the undisclosed landlord in this lease transaction, demonstrating their active role in negotiating the deal. The tenant, Paton Engineers & Constructors, is now occupying the leased space, indicating a continuing demand for industrial properties in suburban markets.
Players
Baytown 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