Skanska USA Commercial Development Acquires Development Site In Houston For $27M
SOLD
$27,000,000
Texas
See Similar DealsDevelopment Site124,582 SF
Sold 08/06/2020
SOLD
Skanska USA Commercial Development Acquires Development Site In Houston For $27M
1003 Westheimer Road, Houston, TX, USA
See Similar DealsDevelopment Site124,582 SF
Sold 08/06/2020
Summary
TEXAS
Asset Type:Development Site
Price Per Square Foot:$216
Total Square Footage:124,582 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,440,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30
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