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0 Kukendahl Road

NextForce Capital Acquires Development Site On Kukendahl Road In Spring TX From Seller Hyman Landau
SOLDDevelopment Site

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

Huntley Grichor

Red Key Properties

Broker

14 deals

Broker

Market Development Site Market Snapshot

Boundary boundary · Development Site · 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