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2501 Gravel Dr, Fort Worth,...

Neveon USA Leases Industrial Space At 2501 Gravel Dr, Fort Worth
LEASEDIndustrial

Neveon USA Leases Industrial Space At 2501 Gravel Dr, Fort Worth

2501 Gravel Dr, Fort Worth, TX, 76118

Building Size

50,000 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The industrial property located at 2501 Gravel Dr in Fort Worth, TX, 76118, has been leased by Neveon USA. The 50,000-square-foot space is situated in Riverbend Business Park, which comprises 32 buildings totaling approximately 1.4 million square feet.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: Not Applicable
  • Tenant: Neveon USA
  • Landlord: Riverbend Properties
  • Square Feet: 50,000
  • Tenant's Rep: Louis Pascuzzi (Newmark)
  • Landlord's Rep: William Wilson and George Jennings (Holt Lunsford Commercial)

Louis Pascuzzi of Newmark represented the tenant, Neveon USA, in the industrial lease agreement at Riverbend Business Park. On the landlord side, the negotiations were handled by William Wilson and George Jennings of Holt Lunsford Commercial, who represented Riverbend Properties in the transaction.

Players

Louis Pascuzzi

Newmark

Broker

7 deals

Broker
RP
Riverbend PropertiesLandlord
NU
Neveon USATenant

Fort Worth 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