Lee & Associates Brokers 12,271 SF Industrial Lease At Grove Business Park In Richardson
777 Grove Rd Richardson, Tx 75081, Usa
Building Size
12,271 SF
Asset Type
Industrial
Closing
Aug 15, 2023
AI
A 12,271 square foot industrial lease has been brokered at Grove Business Park in Richardson. The property, located at 777-797 Grove Road, is part of the industrial segment. The lease involves the tenant, English Color & Supply LLC, a specialist in automotive paint.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not available
- Address: 777-797 Grove Road
- Market: Richardson
- SF: 12,271
The lease was facilitated by Jessica Reinhardt and George Tanghongs from Lee & Associates, who represented the landlord, Dallas North Industrial LLC. On the other hand, Byron McCoy from Younger Partners served as the tenant's representative for English Color & Supply LLC. This deal marks an important collaboration between the two broker teams in securing the industrial lease for the tenant.
Players
Grove City 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