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3450 Tx 114 Fort Worth, Tx ...

Optimas Leases Entire Industrial Space At Champions Circle Business Park In Fort Worth
LEASEDIndustrial

Optimas Leases Entire Industrial Space At Champions Circle Business Park In Fort Worth

3450 Tx 114 Fort Worth, Tx 76177, Usa

Building Size

87,876 SF

Asset Type

Industrial

Closing

May 10, 2023

AI

Optimas, an industrial manufacturer of fasteners, has leased an 87,876-square-foot industrial space at Champions Circle Business Park in Fort Worth. The lease involves the entirety of Building 3.

Summary of transaction details:

  • Property Type: MultiFamily
  • Tenant: Optimas
  • Address: 3450 Highway 114
  • Market: Not specified
  • Asking Rent: $/ft. ~ SF: Not specified
  • Lease Terms: Not specified

Lee & Associates represented the landlord, Hopewell Development, in the lease negotiations. Cresa represented the tenant, Optimas.

NOTE: This transaction represents a lease deal for Optimas, an industrial manufacturer of fasteners. The company will occupy the entire Building 3, which spans 87,876 square feet. Lee & Associates acted as the landlord's representative, while Cresa represented the tenant in the negotiations.

Players

Nathan Denton

Lee & Associates

Broker

14 deals

Broker

Texas 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