Updated Oct 29, 2024
Church Project Acquires Property From Caduceus Management At 602 Pruitt Rd Spring TX
602 Pruitt Rd, Spring, TX, 77380
Building Size
100,000 SF
Asset Type
Commercial
Closing
Nov 20, 2023
About this deal
AI
The sale involves Legends Sports Complex, a commercial property located at 602 Pruitt Road in Spring, Texas. The asset spans 100,000 square feet and is situated on 14.8 acres. Built in 2007, it has been sold to the Church Project for use as their new headquarters.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Address: 602 Pruitt Rd, Spring, TX, 77380
- Market: Spring
- Buyer: Church Project
- Seller: Caduceus Management
- Buyer's Representative: Kevin Barr (Mohr Partners)
- Seller's Representative: Jeff Beard (The J. Beard Real Estate Co.)
Jeff Beard of The J. Beard Real Estate Co. represented Caduceus Management in this transaction. Kevin Barr from Mohr Partners acted on behalf of the buyer, Church Project, which will establish its new headquarters at the property.
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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