LKQ Corp. Leases 523,260 SF Industrial Space At DFW Park 161 In Irving, Texas
2900 State Hwy 161 Irving, TX 75038, USA
Building Size
523,260 SF
Asset Type
Industrial
Closing
Aug 25, 2023
AI
The industrial property located at 2900 State Highway 161 in Irving, Texas, has been leased by LKQ Corp. The asset comprises 523,260 square feet and is part of the DFW Park 161 industrial campus developed by Perot Development Co. and Invesco Real Estate. The Logistics Center 12 facility is situated within a 197-acre development, which also houses tenants such as Amazon and Pitney Bowes.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2900 State Highway 161
- Market: Irving
- Square Footage: 523,260
- Landlord: Perot Development Co - Patrick T. Perot; Invesco Real Estate
- Tenant: LKQ Corp.
- Landlord's Rep: Kurt Griffin & Nathan Orbin - JLL
- Tenant's Rep: Jacob Bobek & Timothy Vogds - CBRE
The lease of the property was facilitated by Jacob Bobek and Timothy Vogds of CBRE, who represented LKQ Corp. On the other side, Kurt Griffin and Nathan Orbin of JLL acted as the landlord's representatives for Perot Development Co and Invesco Real Estate. The transaction brings LKQ Corp. into the vibrant industrial community at DFW Park 161, joining other notable tenants in the area.
Players
Irving 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