Western Pacific Building Materials Inc Leases 101900 Square Feet In Irving Texas From Prologis
9000 North Royal Lane
Building Size
—
Asset Type
Industrial
Closing
Jul 1, 2024
AI
The property is located at 9000 North Royal Lane in Irving, Texas. This industrial asset consists of 101,900 square feet of space and is part of Prologis Freeport Distribution Center Building 2. The transaction involves leasing the space to Western Pacific Building Materials Inc., which will utilize it as a wholesale distribution center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Prologis
- Tenant: Western Pacific Building Materials Inc
- Landlord's Representative: Jeremy Kelly - Stream Realty Partners & Mitch Pruitt - Prologis
- Tenant's Representative: Joe Santaularia - Bradford Commercial Real Estate Services
This lease marks the establishment of Western Pacific Building Materials Inc.'s third wholesale distribution center in Texas. The involvement of multiple representatives highlights the collaborative effort in securing the lease for the tenant, facilitated by Joe Santaularia's expertise at Bradford Commercial Real Estate Services.
Players
Irving 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