Safespill Leases 192400 Square Feet At Ares Management’s Brittmoore Industrial Development In Houston
4510 Brittmoore Road
Building Size
192,400 SF
Asset Type
Industrial
Closing
Sep 2, 2024
AI
The property involved in this transaction is part of Ares Management’s Brittmoore Industrial Development, located at 4510 Brittmoore Road in Houston. The asset is classified as industrial with a total square footage of 192,400. Safespill has signed a full-building lease for this space, enhancing their operational capacity through the relocation from a smaller facility.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 4510 Brittmoore Road
- Market: Houston
- Landlord: Ares Management
- Tenant: Tristan Mackintosh - Safespill
- Landlord's Representative: John Nicholson, Ryan Byrd & Trey Horne - Colliers
- Tenant's Representative: Brian Gammill & Carter Thurmond - Transwestern
- Lease Term: Not specified
The deal involves key representatives, including John Nicholson, Ryan Byrd, and Trey Horne representing Ares Management through Colliers, while Brian Gammill and Carter Thurmond represent Safespill as agents of Transwestern. The new space will be utilized for in-house production with an extrusion line expected to start operating in the fourth quarter of 2024.
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