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2425 Turning Basin Drive, H...

LTR Intermediate Holdings Leases Industrial Property At 2425 Turning Basin Drive In Houston With Rep John D. Garza - Windsor Hill Real Estate Group
LEASEDIndustrial

LTR Intermediate Holdings Leases Industrial Property At 2425 Turning Basin Drive In Houston With Rep John D. Garza - Windsor Hill Real Estate Group

2425 Turning Basin Drive, Houston, Texas 77029, United States

Building Size

127,046 SF

Asset Type

Industrial

Closing

Sep 12, 2022

AI

An industrial property measuring 127,046 square feet located at 2425 Turning Basin Drive in Houston has been leased. The lease transaction was completed on September 13, 2022.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Date: September 13, 2022
  • Address: 2425 Turning Basin Drive, Houston
  • Market: Houston
  • Size: 127,046 square feet

The landlord for this property is Macey Family Properties, represented by Stephanie Holt. The tenant in this lease transaction is LTR Intermediate Holdings. The landlord was represented by John Nicholson, Zack Taylor, and Trey Horne from Colliers, while the tenant was represented by John D. Garza from Windsor Hill Real Estate Group.

Players

John Nicholson

Colliers

Broker

6 deals

Broker

Stephanie Holt

Macey Family Properties

Landlord

1 deal

Landlord
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