DrinkPAK Leases 2.9M SF Industrial Space In Fort Worth With Rep Patrick DuRoss
Building Size
2,900,000 SF
Asset Type
Industrial
Closing
Dec 4, 2023
AI
Fort Worth's DrinkPAK has closed two industrial leases totaling 2.9 million sq ft, as part of its $452 million DFW expansion. The leases are located at 25001 Eagle Parkway and Carter Park East. DrinkPAK aims to create 1,000 jobs by 2026. The locations received a $21 million tax abatement from the city to support long-term development.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 25001 Eagle Parkway, Fort Worth
- Market: Fort Worth
- Square footage: 2,900,000
The industrial leases were facilitated by Crow Holdings Capital, represented by Michael Levy, Rob Riner Companies represented by Rob Riner, and Clarion Partners represented by David J Gilbert. The tenant, DrinkPAK, was represented by Nick Patena. The broker in the deal was Patrick DuRoss from Newmark.
Players
Market 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