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574 Pederson Road

Fitness Equipment Manufacturer Johnson Health Tech Leases 343,760 SF In Katy Industrial Center
LEASEDIndustrial

Fitness Equipment Manufacturer Johnson Health Tech Leases 343,760 SF In Katy Industrial Center

574 Pederson Road

Building Size

343,760 SF

Asset Type

Industrial

Closing

Nov 15, 2023

AI

Fitness equipment manufacturer Johnson Health Tech has leased 343,760 square feet in the Pederson Logistics Center in Katy, west of Houston. The new distribution facility, located at 574 Pederson Road, will serve as the company's distribution hub in the area. This lease transaction is expected to bring new job opportunities to the region.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Address: 574 Pederson Road
  • Market: Katy
  • Square Footage: 343,760 SF

Johnson Health Tech was represented by Boomer White & Jacob Westfall from CBRE as their tenant's representatives. The landlord, Triten Real Estate Partners, was represented by Jason Dillee & Nathan Wynne, also from CBRE. This partnership between the tenant and landlord, along with the involvement of these brokerage firms, facilitated the successful leasing of the new distribution facility.

Note: The leasing of this 343,760 square feet distribution facility by Johnson Health Tech is expected to have a positive impact on the local economy, creating job opportunities in the area. CBRE played a significant role in representing both the tenant, Johnson Health Tech, and the landlord, Triten Real Estate Partners, in this transaction.

Players

Nathan Wynne

CBRE

Broker

$170.5K

vol

21 deals

Broker

Will Hedges

Triten Real Estate Partners

Landlord

4 deals

Landlord

Katy 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