Updated Oct 29, 2024
MAG Capital Partners Acquires Industrial Property In Lubbock, TX
1108 34th Street, Lubbock, Texas 79411, United States
Building Size
66 SF
Asset Type
Industrial
Closing
Nov 18, 2022
About this deal
AI
Located in Lubbock, TX, a 66,680 square foot industrial property, situated at 1108 34th Street, 1107, 1109 & 1123 33rd Street, has recently been sold in a closed transaction. The property was sold on November 18, 2022, and the deal was brokered by Scott Briggs and David Read from Northmarq.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: MAG Capital Partners, LLC
- Buyer's Representative: Dax T.S. Mitchell & Andrew Gi
- Brokers: Scott Briggs & David Read - Northmarq
MAG Capital Partners, LLC, represented by Dax T.S. Mitchell & Andrew Gi, acquired this industrial property. The details regarding the sale price and loan amount have not been disclosed. However, the transaction was facilitated by Scott Briggs and David Read, both representing Northmarq.
On the Map
Industrial
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Lubbock 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