MMM Enterprises Leases 88732 Square Feet At Port 10 Logistics Center In Baytown Texas
2300 East Freeway
Building Size
88,732 SF
Asset Type
Industrial
Closing
Jan 23, 2025
AI
The property involved in this transaction is located at 2300 East Freeway, Baytown, Texas. It is an industrial asset encompassing 88,732 square feet and serves as a facility for MMM Enterprises, which specializes in soap and bath products.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 2300 East Freeway
- Market: Baytown
- Tenant: MMM Enterprises
- Landlord's Representative: David Holland, Joseph Berwick, Richard Quarles & Eliza Klein - JLL
- Tenant's Representative: Tommy Erwin & Tyler Maner - Stream Realty Partners
The transaction was facilitated by representatives from both sides. Stream Realty Partners was represented by Tommy Erwin and Tyler Maner, while the landlord, Pontikes Development, had its interests represented by David Holland, Joseph Berwick, Richard Quarles, and Eliza Klein from JLL. This collaboration led to the successful negotiation of the lease agreement.
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