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2119 W Davis St, Conroe, TX...

Vista Cos Acquires Property On W Davis St, Conroe, TX For 70,000 SF
SOLD

Vista Cos Acquires Property On W Davis St, Conroe, TX For 70,000 SF

2119 W Davis St, Conroe, TX, 77304

Building Size

70,000 SF

Asset Type

Closing

Nov 20, 2023

AI

Montgomery Crossing is a retail center located at 2119 W Davis St, Conroe, TX, 77304, encompassing a total area of 70,000 square feet. The property is situated in the Conroe market, approximately 45 miles north of Houston. At the time of sale, the center was 70 percent leased, hosting tenants such as Dollar Tree, The Toasted Yolk Café, Whataburger, and Mattress Firm.

Summary of transaction details:

  • Property Type: Retail Center
  • Transaction Amount: Not disclosed
  • Buyer: Vista Cos
  • Buyer's Representatives: Matthew Berry-CBRE, Robbie Kilcrease-CBRE
  • Address: 2119 W Davis St, Conroe, TX, 77304
  • Market: Conroe
  • Square Footage: 70,000

The transaction involved Veritex Bank providing acquisition financing to Vista Cos. The identity of the seller was not disclosed. Rob Kilcrease and Matt Berry of CBRE were noted for their roles in representing Vista Cos. during the acquisition process.

Players

Matthew Berry

CBRE

Broker

$7.5M

vol

4 deals

Broker
VC
Vista Cos.Buyer

Conroe CRE Market Snapshot

Boundary boundary · CRE · 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