Skanska USA Commercial Development Acquires Development Site In Houston For $27M
1003 Westheimer Road, Houston, TX, USA
$27,000,000
$216/SF
Building Size
124,582 SF
Asset Type
Development Site
Closing
Aug 5, 2020
AI
The development site located at 1003 - 1011 Westheimer Road in Houston has been sold for a total of $27,000,000. The transaction took place on August 6, 2020. The site spans an area of 124,582 square feet and is a valuable asset in the Houston market.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $27,000,000
- Address: 1003 - 1011 Westheimer Road
- Market: Houston
Skanska USA Commercial Development, represented by Matt Damborsky, has acquired the site. Matt Damborsky is a representative of Skanska USA Commercial Development in this deal. This significant purchase demonstrates the company's commitment to expanding its presence in the Houston market.
Players
Houston 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93