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
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