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4838 Borusan Rd

Stream Realty Partners Secures 135,285 SF Industrial Lease With Tigerhawk Logistics At Portside Logistics Center
LEASEDIndustrial

Stream Realty Partners Secures 135,285 SF Industrial Lease With Tigerhawk Logistics At Portside Logistics Center

4838 Borusan Rd & 4908 Borusan Road

Building Size

270,570 SF

Asset Type

Industrial

Closing

Dec 5, 2023

AI

The Portside Logistics Center near Port Houston in Baytown has finalized a 135,285-square-foot industrial lease. The lease was signed by Tigerhawk Logistics and negotiated by Savills on behalf of the tenant and Stream Realty Partners on behalf of the owner. With this deal, Building 2 of the 1 million-square-foot development is now at 52 percent occupancy.

Summary of transaction details

The Portside Logistics Center lease signifies the strong demand for industrial space in the Baytown market. Stream Realty Partners and Savills worked together to facilitate this agreement, ensuring the successful occupancy of Building 2 in the development.

Players

Tyler Maner

Stream Realty Partners⁠

Broker

12 deals

Broker
Principal Asset Management
Principal Asset ManagementLender

Baytown 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