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3101 Northwest Centre Drive

Lockheed Martin Leases 136,165 SF Industrial Space In Fort Worth, Texas
LEASEDIndustrial

Lockheed Martin Leases 136,165 SF Industrial Space In Fort Worth, Texas

3101 Northwest Centre Drive

Building Size

136,165 SF

Asset Type

Industrial

Closing

Jan 17, 2024

AI

Lockheed Martin has leased 136,165 square feet of industrial space at 3101 Northwest Centre Drive in Fort Worth, Texas. The property, known as Fort West Commerce Center, is located in the Fort Worth market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 3101 Northwest Centre Drive
  • Market: Fort Worth
  • Square Footage: 136,165

Lockheed Martin, a defense and aerospace company, has been a tenant in Fort Worth since World War II. This lease agreement with Creation Equity, represented by George Jennings and Matt Carthey of Holt Lunsford Commercial, allows Lockheed Martin to expand its operations in the area. The company will use the newly acquired industrial space in addition to its existing facilities, primarily focused on F-35 fighter jet production.

Players

Todd Burnette

JLL

Broker

$18M

vol

5 deals

Broker
CE
Creation EquityLandlord

Fort Worth 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