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525 South Cravens Road

Cravens Logistics Center In Missouri City Fully Leased With Optimal & Medpro And Nap Queen
LEASEDIndustrial

Cravens Logistics Center In Missouri City Fully Leased With Optimal & Medpro And Nap Queen

525 South Cravens Road

Building Size

249,370 SF

Asset Type

Industrial

Closing

Nov 2, 2023

AI

Johnson Development Associates has fully leased its Cravens Logistics Center in Missouri City, Texas. The industrial property, spanning 249,370 square feet, attracted two tenants. Optimal & Medpro secured 118,258 square feet, while Nap Queen leased the remaining 131,112 square feet. The property is located at 525 South Cravens Road in Missouri City.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 525 South Cravens Road
  • Market: Missouri City

Geordy Johnson, representing Johnson Development Associates, served as the landlord for the transaction. Optimal & Medpro was represented by Manny Losada. Meanwhile, Garrett Clayton represented Nap Queen as the tenant. The leasing of the property was facilitated by John Nicholson of Colliers.

Note: The Cravens Logistics Center in Missouri City, developed by Johnson Development Associates, has fully leased its 249,370 square feet of space to two tenants. Optimal & Medpro took 118,258 square feet, and Nap Queen leased the remaining 131,112 square feet, with John Nicholson of Colliers facilitating the leasing of the property.

Players

John Nicholson

Colliers

Broker

6 deals

Broker

Missouri City 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