Zobele Group Leases Industrial Space At 3502 Regency Crest Dr Garland TX From Stag Texas Holdings
3502 Regency Crest Dr, Garland, TX...
Building Size
164,419 SF
Asset Type
Industrial
Closing
Nov 22, 2023
AI
The property asset involved in this transaction is an industrial lease located at 3502 Regency Crest Drive, Garland, TX. This facility encompasses a total area of 164,419 square feet and is situated in the Garland market. The tenant in this lease agreement is Zobele Group, a product development and manufacturing firm based in Italy, while the landlord is Stag Texas Holdings.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3502 Regency Crest Dr, Garland, TX
- Market: Garland
- Square Feet: 164,419
- Tenant: Zobele Group
- Landlord: Stag Texas Holdings
- Tenant's Representative: Terry Darrow - JLL
- Landlord's Representative: Ryan Wolcott - Stream Realty Partners
This transaction was facilitated by Terry Darrow and Chris Stout of JLL, who represented the tenant, Zobele Group, during the lease negotiations. Ryan Wolcott from Stream Realty Partners acted as the representative for the landlord, Stag Texas Holdings. The expected move-in date for Zobele Group is planned for the second quarter of 2018.
Players
Garland 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