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4510 Brittmoore Road

Safespill Leases 192400 Square Feet At Ares Management’s Brittmoore Industrial Development In Houston
LEASEDIndustrial

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:

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

Ryan Byrd

Colliers

Broker

3 deals

Broker

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