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3580 North State Highway 161

RIM Logistics Signs Industrial Lease In Grand Prairie's GSW Commerce Center
LEASEDIndustrial

RIM Logistics Signs Industrial Lease In Grand Prairie's GSW Commerce Center

3580 North State Highway 161

Building Size

75,123 SF

Asset Type

Industrial

Closing

Jan 25, 2024

AI

RIM Logistics, an Illinois-based freight company, has signed a lease for a 75,123-square-foot industrial property in Grand Prairie's GSW Commerce Center at 161. The property is being developed by Molto Properties and is expected to be completed later this year. It will offer features such as 36-foot clear heights and ESFR sprinkler systems.

Summary of transation details

  • Property Type: Industrial
  • Transaction Date: 01/25/2024
  • Address: 3580 North State Highway 161
  • Market: Grand Prairie

The landlord for this property is Todd Naccarato of Molto Properties. The tenant, Robert Mueller, is represented by Forshey Hoobler of KBC Advisors. Representing Molto Properties in this lease are Brian Gilchrist, Kacy Jones, and Steve Koldyke from CBRE.

Note: RIM Logistics signed the lease for this industrial property, which is located at Grand Prairie's GSW Commerce Center at 161. The lease was negotiated by Forshey Hoobler, who represented RIM Logistics, and the landlord was represented by Brian Gilchrist, Kacy Jones, and Steve Koldyke of CBRE.

Players

Brian Gilchrist

CBRE

Broker

7 deals

Broker

Todd Naccarato

Molto Properties

Landlord

$114M

vol

5 deals

Landlord

Grand Prairie 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