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0 Marsha Sharp Freeway

Cross Development Acquires Development Site In Lubbock From Zephyr Tree Farms
SOLDDevelopment Site

Cross Development Acquires Development Site In Lubbock From Zephyr Tree Farms

0 Marsha Sharp Freeway

Building Size

Asset Type

Development Site

Closing

May 3, 2024

AI

The development site located at 0 Marsha Sharp Fwy Land in Lubbock, with a total square footage of 87,120 square feet, was recently part of a transaction between Cross Development and Zephyr Tree Farms.

Summary of transaction details:

The deal involved key individuals such as Preston Wolfe from Independence Commercial Real Estate, representing Cross Development, and Landon Cole from Moody Rambin, representing Zephyr Tree Farms in the transaction.

Players

Landon Cole

Moody Rambin

Broker

3 deals

Broker

Lubbock 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