Reliant Air Conditioning Expands Lease At 3250 Story Road W In Irving With Prologis
3250 Story Road West
Building Size
64,134 SF
Asset Type
Industrial
Closing
Aug 22, 2024
AI
The industrial property located at 3250 Story Road West in Irving spans a total area of 64,134 square feet. It is owned by Prologis, which operates a 96,200-square-foot industrial building in the area. The property is situated in a market that supports its industrial asset type, catering specifically to the needs of its tenants.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3250 Story Road West
- Market: Irving
- Square Footage: 64,134
- Landlord: Hamid R. Moghadam - Prologis
- Tenant: Reliant Air Conditioning
- Landlord's Representative: Steve Trese & Wilson Brown - CBRE
- Tenant's Representative: Nathan Denton - Lee & Associates
Lee & Associates facilitated a lease expansion for Reliant Air Conditioning at the mentioned property. The transaction highlights the collaboration between various representatives, with Steve Trese and Wilson Brown representing the landlord Prologis through CBRE, while Nathan Denton acted on behalf of the tenant through Lee & Associates.
Players
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