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3450 South Sam Houston Park...

HiTech Pallets Leases 22,500 SF Industrial Space At 3450 South Sam Houston Parkway East
LEASEDIndustrial

HiTech Pallets Leases 22,500 SF Industrial Space At 3450 South Sam Houston Parkway East

3450 South Sam Houston Parkway East

Building Size

22,500 SF

Asset Type

Industrial

Closing

Aug 20, 2024

AI

The property asset involved in the transaction is located at 3450 South Sam Houston Parkway East in Houston. The industrial asset covers a square footage of 22,500 and operates under a NNN Lease agreement.

Summary of transaction details:

This transaction was facilitated by Copeland Rhea representing Clay Development & Construction as the landlord and Henry Landwermeyer representing Boyd Commercial for the tenant, HiTech Pallets. HiTech Pallets will be utilizing the facility as its new North American headquarters.

Players

Henry Landwermeyer

Boyd Commercial CORFAC International

Broker

2 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