2020 Harwin 59 Shopping Center Ltd Acquires Property At 2002 11th Ave N Texas City
2002 11th Ave N, Texas City, TX, 77590
Building Size
130,525 SF
Asset Type
Commercial
Closing
Nov 19, 2023
AI
The property involved in the transaction is the Tradewinds Shopping Center, situated at 2002 11th Ave N, Texas City, TX, 77590. The shopping center encompasses approximately 130,525 square feet and is located on 11.5 acres of land. At the time of sale, it was about 40 percent leased to tenants including DD’s Discount, Family Dollar, Texas First Bank, and Little Caesars. The market for this property is Texas City.
Summary of transaction details:
- Property Type: Shopping Center
- Transaction Amount: Undisclosed
- Address: 2002 11th Ave N, Texas City, TX, 77590
- Selling Entity: Limited Partnership
- Buyer: 2020 Harwin 59 Shopping Center Ltd
- Buyer's Representative: Dakota Workman-New Quest Properties
- Seller's Representative: David Luther-New Quest Properties
- Market: Texas City
- Square Footage: 130,525
The transaction involved key representatives from NewQuest Properties, with Dakota Workman acting as the buyer's representative for 2020 Harwin 59 Shopping Center Ltd. The seller was represented by David Luther, who facilitated the deal on behalf of a limited partnership entity. This sale reflects the active investment interest within the Texas City real estate market.
Players
Texas City Commercial Market Snapshot
Boundary boundary · Commercial · 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