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8353 Kempwood Drive

Pioneer Millworks Secures 19973 Square Foot Industrial Lease Renewal With Prologis In Houston
LEASEDIndustrial

Pioneer Millworks Secures 19973 Square Foot Industrial Lease Renewal With Prologis In Houston

8353 Kempwood Drive

Building Size

19,973 SF

Asset Type

Industrial

Closing

Aug 16, 2024

AI

The property asset involved is an industrial space located at 8353-8399 Kempwood Drive in Houston, totaling 19,973 square feet. The facility is part of a larger property managed by Prologis, which encompasses a total of 174,337 square feet and was constructed in 1980.

Summary of transaction details:

Oxford Partners facilitated a lease renewal for Pioneer Millworks at the specified address, securing the deal for the tenant under the representation of Jacob Summers, John Harris, and Stephen Hazen. This continues the existing relationship between Pioneer Millworks and the property managed by Prologis.

Players

Jacob Summers

Oxford Partners

Broker

4 deals

Broker

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