OKT Lighting USA Leases 43760 Square Feet At 2304 Reed Road In Houston Industrial Market
2304 Reed Road
Building Size
43,760 SF
Asset Type
Industrial
Closing
Nov 25, 2024
AI
The property asset involved in the transaction is an industrial space located at 2304 Reed Road, Houston. It encompasses a total area of 43,760 square feet suitable for LED lighting operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2304 Reed Road
- Market: Houston
- Landlord: Laura Hines-Pierce
- Tenant: OKT Lighting USA
- Landlord's Representative: Allison Bergmann & Jim Foreman - Cushman & Wakefield
- Tenant's Representative: Tyler Maner & Will Mason - Stream Realty Partners
This lease has enabled OKT Lighting USA to establish its operations within a significant industrial space in South Houston. The transaction was facilitated by Stream Realty Partners representing the tenant, while Cushman & Wakefield acted on behalf of the landlord, Hines.
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