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701 Plastics Ave, Houston, ...

Lee & Associates Leases Industrial Property At 701 Plastics Ave, Houston
LEASEDIndustrial

Lee & Associates Leases Industrial Property At 701 Plastics Ave, Houston

701 Plastics Ave, Houston, TX, 77020

Building Size

88,000 SF

Asset Type

Industrial

Closing

Sep 26, 2018

AI

The industrial property at 701 Plastics Ave in Houston, TX, 77020, spans 88,000 square feet and was built on 6.2 acres in 1979. It features 3,520 square feet of office space, serving as a versatile space for various industrial activities.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not Available
  • Address: 701 Plastics Ave, Houston, TX, 77020
  • Market: Houston
  • Landlord's Representative: CE "Trey" Erwin III (Lee & Associates)
  • Tenant: Grow Texas Plastics LLC

CE "Trey" Erwin III, Robert McGee, and Dalton Knipe from Lee & Associates were the representatives of the undisclosed landlord in negotiating the industrial lease at 701 Plastics Ave. The tenant, Grow Texas Plastics LLC, secured the lease for the 88,000-square-foot industrial property, utilizing the space for their operations in Houston.

Players

CE Erwin III

Lee & Associates

Broker

9 deals

Broker

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