Intelligent Mexican Marketing Leases 42,000 SF Industrial Space In Houston
7350 Denny, Houston, TX, USA
Building Size
42,000 SF
Asset Type
Industrial
Closing
Sep 19, 2021
AI
The recently closed lease transaction in Houston involved an industrial property located at 7350 Denny Road. The property spans approximately 42,000 square feet, making it a substantial asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Date: 09/19/2021
- Address: 7350 Denny Road, Houston
- Tenant: Intelligent Mexican Marketing
- Landlord's Representative: Brian Gammill & Darryl Noon - Transwestern
- Tenant's Representative: Mike McElwee - Avison Young
The landlord's representatives involved in this transaction were Brian Gammill and Darryl Noon from Transwestern. On the other hand, Mike McElwee, representing Avison Young, acted as the tenant's representative. These key individuals and their respective companies played crucial roles in facilitating this lease 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