MS Warehousing Leases 212280 Square Feet At First Liberty Logistics Center In Houston
8251 Liberty Road
Building Size
212,280 SF
Asset Type
Industrial
Closing
Aug 26, 2024
AI
The property asset involved in this transaction is an industrial space located at 8251 Liberty Road in Houston, Texas. The building has a total square footage of 212,280 and is part of a larger speculative project spanning 424,560 square feet, developed by First Industrial Realty Trust. The facility features 40-foot clear heights and is scheduled for completion in fall 2025.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Preleased
- Address: 8251 Liberty Road
- Market: Houston
- Asset Size: 212,280 square feet
- Landlord: Peter E. Baccile - First Industrial Realty Trust
- Tenant: MS Warehousing
- Tenant's Representatives: Grant Hortenstine - CBRE; Bob Berry - Savills
- Brokers: David Munson & Garrett Thomas - Cushman & Wakefield
The key individuals and companies involved in this lease transaction include Peter E. Baccile representing the landlord, while MS Warehousing is represented by Grant Hortenstine from CBRE and Bob Berry from Savills. The landlord's interests are represented by David Munson and Garrett Thomas of Cushman & Wakefield.
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