Finial Group Leases Industrial Property To Dana Safety Supply In Somerville
9690 Farm-to-Market Road 50
Building Size
12,397 SF
Asset Type
Industrial
Closing
Mar 19, 2024
AI
The industrial property involved in the lease transaction is located at 9690 FM 50 in Somerville. The asset spans 12,397 square feet and features 28 loading positions. The lease was secured by Dana Safety Supply, with Jon Dandurand representing the landlord, Burr & Temkin, and Jack Gaffney & Kevin Coleman of Finial Group representing the tenant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Tenant: Dana Safety Supply
- Landlord's Rep: Jon Dandurand - Burr & Temkin
- Tenant's Rep: Jack Gaffney & Kevin Coleman - Finial Group
- Market: Somerville
Houston's Finial Group played a crucial role in brokering the 12,397-square-foot industrial lease. Jack Gaffney and Kevin Coleman represented the tenant, Dana Safety Supply, while Jon Dandurand of Burr & Temkin acted as the landlord's representative in this transaction.
Players
Somerville 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