Updated Dec 4, 2024
Daikin Industries Leases 500,840 SF Warehouse In Waller, Texas With Pagewood Landlord
Hwy 290
Building Size
500,840 SF
Asset Type
Industrial
Closing
Nov 2, 2023
About this deal
AI
Pagewood has leased their entire 500,840-square-foot industrial property located on Hwy 290 in Waller, Texas. The property has been leased to Daikin Industries Ltd, a Japanese air conditioning manufacturer, for a multiyear lease. The new facility will serve as Daikin's logistics and distribution hub, conveniently located near their 4.3 million-square-foot manufacturing and distribution facility in the area.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: Hwy 290
- Market: Waller
- Size: 500,840 square feet
The landlord, Pagewood, was represented by Jason Dillee and Nathan Wynne from CBRE. The tenant, Daikin Industries Ltd, was represented by Heath Donica, Seth Koshak, and Tyler Maner from Stream Realty Partners. This lease agreement allows Daikin Industries Ltd to expand their existing footprint in the Waller area and establish a dedicated logistics and distribution hub near their main manufacturing and distribution facility.
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Industrial
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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