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4610 South Sam Houston Park...

Johnson Controls Leases 43,000 SF At The Business Center At Five Corners In Houston
LEASEDIndustrial

Johnson Controls Leases 43,000 SF At The Business Center At Five Corners In Houston

4610 South Sam Houston Parkway West

Building Size

43,000 SF

Asset Type

Industrial

Closing

Oct 18, 2023

AI

The Business Center at Five Corners, located at 4610 South Sam Houston Parkway West in southwest Houston, has secured a new lease deal. The industrial property, spanning 43,000 square feet, was fully leased to Johnson Controls. The development, consisting of five buildings, is owned by Levey Group, led by David Ebro.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Square Footage: 43,000
  • Address: 4610 South Sam Houston Parkway West
  • Market: Houston

CBRE played an instrumental role in facilitating the lease negotiations between Johnson Controls, represented by George R. Oliver, and Levey Group. The negotiation process also involved the efforts of CBRE brokers Boomer White, Joseph Smith, Nathan Wynne, and Savannah Smith. This lease agreement further solidifies the occupancy of The Business Center at Five Corners under the ownership of Levey Group.

Players

Nathan Wynne

CBRE

Broker

$170.5K

vol

21 deals

Broker

David Ebro

Levey Group

Landlord

3 deals

Landlord

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