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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 845 Greens Parkway
- Market: Houston
- Landlord: Hamid Moghadam - Prologis
- Tenant: Edward Boss - Riteks Inc.
- Landlord's Representative: Jeremy Lumbreras, Sherwood Hillyer & William Carpenter - Stream Realty Partners
- Tenant's Representative: Justin Clark - Clark Gaines Properties
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
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