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9431 Bay Area BLVD, Houston...

Custom Goods LLC Leases 353600 Square Feet At 9431 Bay Area Blvd Houston From Bay Bluff LP
LEASEDIndustrial

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

Doug Nicholson

Newmark

Broker

4 deals

Broker
BL
Bay Bluff LPLandlord
CL
Custom Goods LLCTenant

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