IFP-II LLC Acquires Property From Admiral Glass Co With Joseph Berwick And Justin Tunnell As Brokers
12218 Robin BLVD, Houston, TX, 77045
Building Size
211,086 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The property asset involved in this transaction is a manufacturing facility located at 12218 Robin Blvd, Houston, TX, 77045. The facility spans 211,086 square feet and features 10-foot clear heights along with 10 drive-in, grade-level doors. The property was built in 1964 and is situated in the Houston market.
Summary of transaction details:
- Property Type: Manufacturing Facility
- Transaction Amount: Not disclosed
- Address: 12218 Robin BLVD, Houston, TX, 77045
- Market: Houston
- Buyer: IFP-II LLC
- Seller: Admiral Glass Co
- Buyer's Representative: Joseph Berwick (JLL)
- Seller's Representative: Justin Tunnell (Lee & Associates)
- Square Footage: 211,086
The sale involved key representatives from the brokerage firms, with Justin Tunnell of Lee & Associates representing the seller, Admiral Glass Co., and Joseph Berwick and Richard Quarles of JLL representing the buyer, IFP-II LLC. This transaction reflects the collaborative efforts of the involved parties in facilitating the exchange of the property.
Players
Houston 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