Tosca Services LLC Leases Industrial Property In Garland From Barings
4002 W Miller Rd, Garland, TX, 75041
Building Size
152,000 SF
Asset Type
Industrial
Closing
Dec 10, 2019
AI
The industrial lease transaction at 4002 W Miller Rd, Garland, TX, 75041 in Garland involved a 152,000-square-foot property at Gateway East Business Center. The tenant, Tosca Services LLC, a provider of reusable plastic containers, secured this industrial space in a deal facilitated by Louis Pascuzzi of Newmark Knight Frank representing the tenant and Ryan Wolcott and Matt Dornak of Stream Realty Partners representing the landlord, Barings.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Tenant: Tosca Services LLC
- Landlord: Barings
- Square Feet: 152,000
- Tenant's Rep: Louis Pascuzzi (Newmark)
In the lease negotiations for the industrial property, Tosca Services LLC was represented by Louis Pascuzzi from Newmark Knight Frank, while the landlord, Barings, was represented by Ryan Wolcott and Matt Dornak from Stream Realty Partners. This lease at the Gateway East Business Center in Garland, Texas, marks a significant real estate decision for Tosca Services LLC, enhancing their operational capabilities in the northeastern suburb of Dallas.
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