Colliers Brokers Sale Of Industrial Property In La Porte For Strong Market Demand
10819 West Fairmont Parkway
Building Size
8,400 SF
Asset Type
Industrial
Closing
Jun 25, 2024
AI
An ±8,400 square foot single-tenant industrial property at 10819 Fairmont Parkway in LaPorte, Texas was successfully brokered by Colliers. The property is situated in La Porte's industrial submarket, known for its strategic port proximity and low vacancy rate of 2.7%.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 10819 West Fairmont Parkway
- Market: La Porte
- Square Footage: 8,400
- Acres: 0.8
- Brokers: Connor Duffy, Mike Taetz & Todd Moore - Colliers
The sale was facilitated by Mike Taetz, Todd Moore, and Connor Duffy. The transaction garnered significant interest, leading to the property going under contract within just seven days of being listed. The strong market demand for net lease properties in La Porte's industrial submarket, coupled with limited competition, contributed to the successful sale of the industrial asset.
Players
La Porte 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