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2425 Turning Basin Dr, Hous...

LTR Intermediate Holdings Inc Leases 127046 Square Feet At 2425 Turning Basin Dr Houston
LEASEDIndustrial

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

Zachary Taylor

Marcus & Millichap

Broker

$355.9M

vol

42 deals

Broker
MP
Macey Family PropertiesLandlord
LH
LTR Intermediate HoldingsTenant

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