Ideal Steel Leases 66000 Square Feet From Welcome Group At 5900 Brittmoore Rd Houston
5900 Brittmoore Rd, Houston, TX, 770...
Building Size
66,000 SF
Asset Type
Industrial
Closing
Oct 4, 2016
AI
The transaction involves the lease of 66,000 square feet of industrial manufacturing space located at 5900 Brittmoore Rd, Houston, TX 770. This property is situated in the Houston market.
Summary of transaction details:
- Property Type: Industrial Leasing
- Transaction Amount: Not specified
- Square Feet: 66,000
- Tenant: Ideal Steel
- Landlord: Welcome Group
- Tenant's Representatives: Darren O’Conor - NAI Capital, Jake Wilkinson - NAI Capital
- Landlord’s Representative: Ryan Wasaff
Darren O’Conor and Jake Wilkinson from NAI Capital represented Ideal Steel in this leasing transaction. Ryan Wasaff acted on behalf of the landlord, Welcome Group, to facilitate the deal.
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