SAF Holland Group Leases 255,672 SF Industrial Building In Rowlett With Colliers Reps
7602 Merritt Road
Building Size
255,672 SF
Asset Type
Industrial
Closing
May 8, 2024
AI
The industrial building located at 7602 Merritt Road in Rowlett, within the Lakeview Business District development by Jackson-Shaw, spans 255,672 square feet. The property was leased to The SAF Holland Group, with the entirety of Building 6 being occupied by the tenant. The lease was facilitated by Colliers International brokers Ben Wallace and Brad Balke.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Michele Wheeler - Jackson-Shaw
- Tenant: Alexander Geis - The SAF Holland Group
- Brokers: Ben Wallace & Brad Balke - Colliers International
The SAF Holland Group preleased the industrial building as part of the first phase of the Lakeview Business Center, scheduled for completion by March 2025. This transaction highlights the collaboration between Jackson-Shaw, the landlord, and The SAF Holland Group, the tenant, with Colliers International brokers Ben Wallace and Brad Balke facilitating the lease agreement.
Players
Rowlett 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