Big Air Trampoline Park Secures 35,311 SF Retail Lease In Houston
3040 Fm 1960 East
Building Size
35,311 SF
Asset Type
Retail
Closing
Apr 24, 2024
AI
The retail property located at 3040 Fm 1960 East in Houston, spanning 35,311 square feet, was involved in a lease transaction. The lease was secured by Greg Briggs for Big Air Trampoline Park at Cypress Landing Shopping Center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Tenant: Greg Briggs - Big Air Trampoline Park
- Landlord's Rep: Jason Gaines - Sturbridge Commercial Real Estate
- Tenant's Rep: RJ Mohindra - FEC Real Estate
Big Air Trampoline Park, led by Greg Briggs, will be opening the 35,311-square-foot facility in May at Cypress Landing Shopping Center. The lease was negotiated with the assistance of Jason Gaines from Sturbridge Commercial Real Estate, representing the landlord, and R.J. Mohindra from FEC Real Estate, representing Big Air. Plans are in place for Big Air to expand by opening an additional 30 locations in the future.
Players
Houston 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