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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Buyer: Steve Elis - Southwest Sales
- Seller: Fernando De Leon - Leon Capital
- Buyer's Rep: Adam Graham & Christopher Hillman - Lee & Associates
- Seller's Rep: Steve Trese & Wilson Brown - CBRE
- Lender: Bank of the West
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
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