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4310 North Belt Line Road

Southwest Sales Acquires 60,400 SF Warehouse In Irving From Leon Capital
SOLDIndustrial

Southwest Sales Acquires 60,400 SF Warehouse In Irving From Leon Capital

4310 North Belt Line Road

Building Size

60,400 SF

Asset Type

Industrial

Closing

Jun 10, 2024

AI

The property involved in the transaction is Airport Corporate Center, a 60,400-square-foot warehouse located at 4310 North Belt Line Road in Irving. The sale between Fernando De Leon, from Leon Capital, and buyer Steve Elis of Southwest Sales was brokered by CBRE and Lee & Associates. The strategic location of the asset near major highways and airports in the Irving market adds to its appeal.

Summary of transation details:

The completion of the sale signifies a significant move in the industrial market of North Texas. The involvement of key individuals such as Steve Elis, Fernando De Leon, Adam Graham, Christopher Hillman, Steve Trese, and Wilson Brown highlights the collaboration between Southwest Sales, Leon Capital, CBRE, Lee & Associates, and Bank of the West in this transaction.

Players

Steve Trese

CBRE

Broker

7 deals

Broker
Bank of the West
Bank of the WestLender

Irving Industrial Market Snapshot

Boundary boundary · Industrial · Sale 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