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971 North Sam Houston Parkw...

GCP Paper USA Leases 99,926 Square Feet At Beltway North Commerce Center In Houston
LEASEDIndustrial

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

Woody Hillyer

Stream Realty Partners⁠

Broker

4 deals

Broker

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