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1108 34th Street, Lubbock, ...

MAG Capital Partners Acquires Industrial Property In Lubbock, TX
SOLDIndustrial

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

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.

Players

Scott Briggs

Stan Johnson Company

Broker

$93.5M

vol

2 deals

Broker
ML
MAG Capital Partners, LLCBuyer

Lubbock Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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