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845 Greens Parkway

Riteks Inc. Expands Lease By 45,185 Square Feet At 845 Greens Parkway In Houston
LEASEDIndustrial

Riteks Inc. Expands Lease By 45,185 Square Feet At 845 Greens Parkway In Houston

845 Greens Parkway

Building Size

45,185 SF

Asset Type

Industrial

Closing

Jan 24, 2025

AI

The property involved in this lease transaction is located at 845 Greens Parkway, Houston, and encompasses a total of 63,917 square feet of industrial space. The specific lease expansion amounts to 45,185 square feet. This industrial asset is situated in the North Houston market.

Summary of transaction details:

The lease transaction involved Riteks Inc., which has expanded its lease at the property. Prologis, represented by Stream Realty Partners, facilitated this arrangement, while Justin Clark of Clark Gaines Properties represented the interests of Riteks Inc.

Players

Jeremy Lumbreras

Stream Realty Partners⁠

Broker

16 deals

Broker
Hamid Moghadam

Hamid Moghadam

Prologis

Landlord

$2.6B

vol

51 deals

Landlord

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