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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3450 South Sam Houston Parkway East
- Market: Houston
- Square Footage: 22,500
- Landlord: Clay Development & Construction
- Tenant: HiTech Pallets
- Landlord's Representative: Copeland Rhea - Clay Development & Construction
- Tenant's Representative: Henry Landwermeyer - Boyd Commercial CORFAC International
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
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