LTR Intermediate Holdings Inc Leases 127046 Square Feet At 2425 Turning Basin Dr Houston
2425 Turning Basin Dr, Houston, TX, 7...
Building Size
127,046 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property asset involved is a full-building industrial lease located at 2425 Turning Basin Drive, Houston, TX. It encompasses 127,046 square feet and features 23-foot clear heights along with 12 dock-high doors and 20,292 square feet of office space.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not Applicable
- Address: 2425 Turning Basin Dr, Houston, TX
- Market: Houston
- Tenant: LTR Intermediate Holdings Inc
- Landlord: Macey Family Properties
- Tenant's Representative: John D. Garza
- Landlord's Representative: John Nicholson, Royal Shell Real Estate
- Additional Representatives: Zack Taylor, Trey Horne of Colliers
This lease transaction is notable for the representation provided by key individuals: John Nicholson, Zack Taylor, and Trey Horne, who represented Macey Family Properties. John Garza represented the tenant, LTR Intermediate Holdings Inc, through Windsor Hill Real Estate Group.
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