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Gemini Street

Fort Capital Leases 15007 SF Industrial Space To Smart Source Auctions In Houston Texas
LEASEDIndustrial

Fort Capital Leases 15007 SF Industrial Space To Smart Source Auctions In Houston Texas

Gemini Street

Building Size

15,007 SF

Asset Type

Industrial

Closing

Apr 21, 2025

AI

The lease involves an industrial asset located at 905 Gemini Street in Houston, Texas, with a total square footage of 15,007. This property is situated in Gemini Business Park, which is known for its proximity to NASA's Johnson Space Center and its accessibility to major highways and shipping routes. The space has been recently renovated, aiming to accommodate a range of industrial tenants with flexible layouts and modern finishes.

Summary of transaction details:

This transaction showcases the efforts of key individuals in the leasing process, with Walter Menuet and Benjamin Condara representing Fort Capital, LLC, while Marco Salazar represents Smart Source Auctions. Their involvement has facilitated the leasing of this newly renovated unit, which is part of Fort's premier Clear Lake campus that caters to growing businesses in the area.

Players

Walter Menuet

Colliers

Broker

12 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