GCP Paper USA Leases 99,926 Square Feet At Beltway North Commerce Center In Houston
971 North Sam Houston Parkway East
Building Size
99,926 SF
Asset Type
Industrial
Closing
Oct 16, 2024
AI
The transaction involves a lease for an industrial asset located at 971 North Sam Houston Parkway East in Houston. The property encompasses a total area of 99,926 square feet and is situated in a market valued for industrial assets.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 971 North Sam Houston Parkway East
- Market: Houston
- Landlord: High Street Logistics Properties
- Tenant: GCP Paper USA
- Landlord's Representative: Jeremy Lumbreras & Woody Hillyer - Stream Realty Partners
- Tenant's Representative: Jordan Enger & Joseph Smith - CBRE
The lease agreement was executed by GCP Paper USA, which signed for the 99,926-square-foot space within the Beltway North Commerce Center in North Houston. The landlord was represented by Jeremy Lumbreras and Woody Hillyer from Stream Realty Partners, while the tenant was represented by Jordan Enger and Joseph Smith from CBRE.
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