Partners Real Estate Secures Industrial Lease For Tecmag In West Houston
3630 Westchase Drive & 3668 Westchase Drive
Building Size
—
Asset Type
Industrial
Closing
Nov 28, 2023
AI
An industrial lease for a 16,764-square-foot property located at 3630-3668 Westchase Drive in West Houston has been secured. The property is owned by Link Logistics Real Estate and the tenant is Tecmag, represented by Dr. Scott Riley. The lease was brokered by Jon Silberman and Pierce Beyer of Partners Real Estate, who represented Tecmag, and Boone Smith of Stream Realty Partners, who represented Link Logistics Real Estate.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 3630-3668 Westchase Drive
- Market: Houston
The lease for the property at 3630-3668 Westchase Drive in West Houston was secured by Tecmag, represented by Dr. Scott Riley. Link Logistics Real Estate, the landlord, was represented by Boone Smith of Stream Realty Partners. Partners Real Estate, through Jon Silberman and Pierce Beyer, brokered the deal on behalf of Tecmag.
Players
Houston 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