Investment & Development Ventures LLC Leases Industrial Asset In Houston For 603,389 SF - Cushman & Wakefield Brokers Involved
NEC Sam Houston Tollway & Cullen Blvd
Building Size
603,389 SF
Asset Type
Industrial
Closing
Dec 13, 2022
AI
Investment & Development Ventures LLC has successfully leased an industrial property located at the NEC Sam Houston Tollway & Cullen Blvd in Houston. The property offers a whopping 603,389 square feet of space, making it a significant asset in the market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Lease
- Date: 12/13/2022
- Address: NEC Sam Houston Tollway & Cullen Blvd, Houston
- Market: Houston
- Landlord: Investment & Development Ventures LLC
- Brokers: Stephen Schneidau, Chuck Berger, Jim Foreman & Brooke Forrest - Cushman & Wakefield
This lease transaction was facilitated by the renowned brokerage firm Cushman & Wakefield, with brokers Stephen Schneidau, Chuck Berger, Jim Foreman, and Brooke Forrest representing the landlord in the deal. The successful lease of this expansive industrial property showcases the expertise and negotiation skills of these brokers, further solidifying their reputation in the industry.
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