First Houston Properties Leases 18 Acres Industrial Outside Storage Yard In Houston
299 Gellhorn Drive
Building Size
784,080 SF
Asset Type
Industrial
Closing
Mar 1, 2023
AI
First Houston Properties has recently closed a lease transaction for an industrial outside storage yard located at 299 Gellhorn Drive in Houston. The property consists of approximately 18 acres of land, providing ample space for storage and industrial activities.
Summary of transaction details
- Property Type: Industrial Outside Storage Yard
- Transaction Amount: Not disclosed
- Address: 299 Gellhorn Drive
- Market: Houston
- Brokers: Patrick McKiernan, James Mashni & Sam Mcgurk - First Houston Properties
- Lease Term: 18 Acres IOS Stabilized Yard Lease
This lease transaction was facilitated by the team at First Houston Properties, represented by brokers Patrick McKiernan, James Mashni, and Sam Mcgurk. They successfully negotiated the terms of the lease, securing a long-term agreement for the 18-acre industrial outside storage yard.
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