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2900 State Hwy 161 Irving, ...

LKQ Corp. Leases 523,260 SF Industrial Space At DFW Park 161 In Irving, Texas
LEASEDIndustrial

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

Nathan Orbin

JLL

Broker

6 deals

Broker
Invesco Real Estate
Invesco Real EstateLender
Invesco Real Estate
Invesco Real EstateLandlord

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