Chint Power Systems Leases 76,433 SF Industrial Space In Wylie Business Center
Building Size
76,433 SF
Asset Type
Industrial
Closing
Apr 8, 2024
AI
The property involved in the lease is an industrial asset spanning 76,433 square feet located at 2801 North State Highway 78 in Wylie. The lease was finalized between landlord Lovett Industrial and Cresset Real Estate Partners and tenant Chint Power Systems in the northeastern Dallas suburb of Wylie.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2801 North State Highway 78
- Market: Wylie
- Tenant: Chint Power Systems
- Landlord: Lovett Industrial; Cresset Real Estate Partners
- Landlord's Rep: Dalton Knipe, Kurt Griffin & Nathan Orbin - JLL
- Tenant's Rep: Christian Moore - Mercer Company
The deal was brokered by Dalton Knipe, Kurt Griffin, and Nathan Orbin of JLL representing the landlords, Lovett Industrial and Cresset Real Estate Partners. On the other side, Christian Moore from Mercer Company served as the representative for Chint Power Systems, a company specializing in solar energy products. The agreement aims for Chint Power Systems to transition into the 76,433-square-foot industrial space at Wylie Business Center by summer.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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