NextForce Capital Acquires Development Site On Kukendahl Road In Spring TX From Seller Hyman Landau
Building Size
185,783 SF
Asset Type
Development Site
Closing
Jul 12, 2024
AI
The property asset involved in the transaction is a development site located at 0 Kukendahl Road in Spring, TX. The site encompasses 185,783 square feet with a buildable square footage of 150,000 and an existing building with a square footage of 70,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not stated
- Buyers: Umar Qureshi, Sunil Parmar, Shahrukh Ahmed, and Haroon Dosani
- Buyer's Company: NextForce Capital
- Seller: Hyman Landau
- Seller's Company: FM 2920 Kuykendahl Investment
- Broker: Huntley Grichor
- Broker's Agency: Red Key Properties
NextForce Capital, represented by Huntley Grichor, has acquired the site with plans for the development of over 70,000 square feet of Flex-Warehouse space along Kuykendahl Rd., situated just north of Louetta Rd.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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