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5101 Statesman Drive

Challenge Manufacturing Co Renews Industrial Lease At 5101 Statesman Drive In Irving
LEASEDIndustrial

Challenge Manufacturing Co Renews Industrial Lease At 5101 Statesman Drive In Irving

5101 Statesman Drive

Building Size

91,364 SF

Asset Type

Industrial

Closing

Aug 28, 2023

AI

Challenge Manufacturing Co. has renewed its 91,364-square-foot industrial lease at 5101 Statesman Drive in Irving. The full-building lease was negotiated by Holt Lunsford Commercial and JLL for the landlord, Oxford Properties, and the tenant, respectively.

Summary of transaction details:

Canon Shoults and Maddy Canty from Holt Lunsford Commercial represented the landlord, Oxford Properties, in the lease negotiation. On the tenant's side, Nathan Orbin from JLL acted as the representative for Challenge Manufacturing Co. This lease renewal allows Challenge Manufacturing Co. to continue its operations in the 91,364-square-foot industrial space at 5101 Statesman Drive in Irving.

Players

Canon Shoults

Holt Lunsford Commercial

Broker

19 deals

Broker
Oxford Properties Group
Oxford Properties GroupBrokerage
Daniel Fournier

Daniel Fournier

Oxford Properties Group

Landlord

$136M

vol

5 deals

Landlord

Irving 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