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:
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 5101 Statesman Drive
- Market: Irving
- Landlord: Oxford Properties - Daniel Fournier
- Tenant: Challenge Manufacturing Co.
- Landlord's Representative: Canon Shoults & Maddy Canty - Holt Lunsford Commercial
- Tenant's Representative: Nathan Orbin - JLL
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
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