Matt Parsons Of JLL Represents Tenant In Retail Lease Deal In Alvin
2625 Tx-35 Bus, Alvin, TX, 77511
Building Size
25,000 SF
Asset Type
Retail
Closing
Apr 25, 2017
AI
The property asset involved in this transaction is a retail space located at 2625 Tx-35 Bus, Alvin, TX, 77511, with a total area of 25,000 square feet. The market for this asset is Alvin, and it was leased by the landlord, FCA.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 2625 Tx-35 Bus, Alvin, TX, 77511
- Square Feet: 25000
- Landlord: FCA
- Tenant's Representative: Matt Parsons - JLL
The deal is part of a broader strategy by Dirt Cheap, which has retained JLL for multiple location rollouts throughout the greater Houston area. Besides this transaction, Dirt Cheap also signed new retail leases for locations including 24,000 square feet at Fairmont-Preston Plaza in Pasadena and 27,000 square feet at Westfield Shopping Center in Spring, with Matt Parsons, Mark Raines, and Chris Burns leading the JLL team in this initiative.
Players
Alvin Retail Market Snapshot
Boundary boundary · Retail · 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