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
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