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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 301 Leora Lane
- Market: Lewisville
- Square Footage: 25,445
- Landlord: EastGroup Properties LP
- Tenant: Alpha Insulation & Waterproofing Inc
- Landlord's Rep: Bob Hagewood & Eric Crutchfield - Stream Realty Partners
- Tenant's Rep: Joe Santaularia - Bradford Commercial Real Estate Services
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
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