Faraday Electric Motors, LLC Acquires 25,490 SF Industrial Facility In Corpus Christi, TX
102 Navigation Boulevard
Building Size
25,490 SF
Asset Type
Industrial
Closing
Feb 7, 2024
AI
A 25,490-square-foot industrial facility at 102 Navigation Blvd. in Corpus Christi, Texas, has been sold by Cravey Real Estate Services, Inc. John Foret represented the seller, Deluxe Finance, Inc., while Giavanna Maddalone represented the buyer, Faraday Electric Motors, LLC. The property is located in the local electric motor and pump repair sector, demonstrating Faraday Electric Motors' strategic growth in the industry.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Square Footage: 25,490
- Acres: 2.93
- Address: 102 Navigation Blvd.
- Market: Corpus Christi
The seller, Deluxe Finance, Inc., was represented by John Foret of Cravey Real Estate Services. On the other hand, Giavanna Maddalone of Taifka Real Estate represented the buyer, Faraday Electric Motors, LLC. This transaction showcases Faraday Electric Motors' strategic growth in the local electric motor and pump repair sector.
Players
Corpus Christi Industrial Market Snapshot
Boundary boundary · Industrial · 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