Updated Dec 4, 2024
Paramount Transportation Services Extends Industrial Lease At World Houston Parkway, Houston
4220 World Houston Parkway
Building Size
64,576 SF
Asset Type
Industrial
Closing
Nov 10, 2023
About this deal
AI
Freight and logistics firm Paramount Transportation Services has extended its industrial lease to 64,576 square feet at 4220 World Houston Parkway in downtown Houston. The property is owned by EastGroup Properties and the lease negotiations were handled by Newmark on behalf of the tenant.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Square Footage: 64,576 SF
- Address: 4220 World Houston Parkway
- Market: Houston
The landlord, EastGroup Properties, is represented by Donald F. Colleran. The tenant, Paramount Transportation Services, is represented by Jay Magness, Joshua Brown, and Kaitlyn Duffie of Newmark.
NOTE: The lease negotiations were facilitated by InSite Realty Partners on behalf of the landlord, EastGroup Properties.
On the Map
Industrial
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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