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12218 Robin BLVD, Houston, ...

IFP-II LLC Acquires Property From Admiral Glass Co With Joseph Berwick And Justin Tunnell As Brokers
SOLDIndustrial

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

Richard Quarles

JLL

Broker

6 deals

Broker

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