Michael Gay Of Allied Plastic Supply LLC Leases 24000 SQFT Industrial Space In Houston
5250 North Sam Houston Parkway West
Building Size
24,000 SF
Asset Type
Industrial
Closing
Mar 26, 2025
AI
The property asset involved in this transaction is an industrial space located at 5250 North Sam Houston Parkway West in Houston. The total area of the property is 24,000 square feet, which is suitable for industrial operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 5250 North Sam Houston Parkway West
- Market: Houston
- Tenant: Michael Gay - Allied Plastic Supply LLC
- Landlord: Hamid Moghadam - Prologis
- Tenant's Representative: Joe Berwick - JLL
- Landlord's Representative: Garret Geaccone - Stream Realty Partners
The deal features representation from Joe Berwick of JLL for the tenant, Allied Plastic Supply LLC, and Garret Geaccone of Stream Realty Partners representing the landlord, Prologis. This collaboration highlights the roles these individuals played in finalizing the lease agreement.
Players
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