Custom Goods LLC Leases 353600 Square Feet At 9431 Bay Area Blvd Houston From Bay Bluff LP
9431 Bay Area BLVD, Houston, TX, 77...
Building Size
353,600 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
An industrial lease has been negotiated at 9431 Bay Area Boulevard, located in the Bay Area Business Park in Pasadena, Texas. The property encompasses a total square footage of 353,600, serving as a significant asset in the Houston market.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Address: 9431 Bay Area BLVD, Houston, TX
- Market: Houston
- Tenant: Custom Goods LLC
- Landlord: Bay Bluff LP
- Tenant's Representative: Doug Nicholson - Newmark
- Landlord's Representative: Stream Realty Partners
- Square Feet: 353600
The negotiation involved Doug Nicholson from Newmark representing the tenant, Custom Goods LLC, a logistics firm based in Los Angeles. Stream Realty Partners acted on behalf of the landlord, Bay Bluff LP, facilitating the terms of the lease.
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