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301 Leora Lane

Alpha Insulation & Waterproofing Renews Lease At Creekview 121 In Lewisville
LEASEDIndustrial

Alpha Insulation & Waterproofing Renews Lease At Creekview 121 In Lewisville

301 Leora Lane

Building Size

25,445 SF

Asset Type

Industrial

Closing

Jun 17, 2024

AI

The industrial property at 301 Leora Lane in Lewisville has been leased by Alpha Insulation & Waterproofing Inc, securing a long-term early renewal for 25,445 square feet of class A industrial space. The property, located in Building 4 at Creekview 121 in Denton County, is part of a 10-building complex developed by EastGroup Properties LP.

Summary of transaction details:

Joe Santaularia from Bradford Commercial Real Estate Services, representing the tenant, highlighted the strategic advantages of Creekview 121 in Denton County during the leasing process. The early renewal ensures the company's continued operations at its North Texas distribution center, emphasizing the importance of meticulous planning in the competitive industrial market.

Players

Joe Santaularia

Bradford Commercial Real Estate Services

Broker

9 deals

Broker

The Colony 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