Updated Oct 29, 2024
AB Moving Leases Industrial Property In Plano At 1701 Summit Avenue
1701 Summit Ave, Richmond, VA 23230, USA
Building Size
212,550 SF
Asset Type
Industrial
Closing
Jul 26, 2020
About this deal
AI
The industrial property located at 1701 Summit Avenue in Plano has been leased. The tenant, AB Moving, will occupy a space of 21,255 square feet. The property, built in 1986, was leased by Cabot Properties as the landlord.
Summary of transaction details
- Property Type: Industrial
- Tenant: AB Moving
- Landlord: Cabot Properties
- Address: 1701 Summit Avenue
- Market: Plano
- Square Footage: 21,255
- Tenant's Representative: Jimmy Pham - Concept Commercial Realty
- Landlord's Representatives: Brett Lewis & George Tanghongs - Lee & Associates
The deal was facilitated by Jimmy Pham from Concept Commercial Realty, representing the tenant, and Brett Lewis and George Tanghongs from Lee & Associates, representing the landlord.
Players
Richmond Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Deal FAQ
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