Southwest Networks Inc. And Airport Lighting Systems Inc. Lease 25,765 SF In Irving
3251 Story Road West & 3245 Story Road West
Building Size
51,530 SF
Asset Type
Industrial
Closing
Aug 26, 2024
AI
The transaction involves an industrial asset located at 3251 Story Road West & 3245 Story Road West in the Irving market, encompassing a total of 25,765 square feet. The property is leased by Las Colinas AAA Investment LLC to Southwest Networks Inc. and Airport Lighting Systems Inc.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3251 Story Road West & 3245 Story Road West
- Market: Irving
- Square Footage: 25,765
- Landlord: Las Colinas AAA Investment LLC
- Tenant 1: Southwest Networks Inc. (12,888 square feet)
- Tenant 2: Airport Lighting Systems Inc. (12,877 square feet)
- Landlord's Representative: Brian Pafford - Bradford Commercial Real Estate Services
- Tenant's Representatives: Canon Shoults, Maddy Coffman & Trey Goodspeed - Holt Lunsford Commercial
Bradford Commercial Real Estate Services successfully secured two headquarters leases for the remaining 25,765 square feet at Las Colinas Distribution Center 5. Maddy Coffman and Canon Shoults represent Southwest Networks Inc., while Trey Goodspeed represents Airport Lighting Systems Inc. in this transaction.
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