Granger Associates Sells Property At 1318 Bammel Rd In Houston With Corey Ferguson As Buyer's Rep
1318 Bammel Rd, Houston, TX, 77073
Building Size
110,000 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
A 110,000-square-foot manufacturing facility has been sold at 1318 Bammel Road in Houston, Texas, situated on a 35-acre site. The property was previously utilized as the Houston facility for Lectrus Corp., a company specializing in electrical solutions that filed for bankruptcy in 2017.
Summary of transaction details:
- Property Type: Manufacturing Facility
- Transaction Amount: Not disclosed
- Address: 1318 Bammel Rd, Houston, TX, 77073
- Market: Houston
- Buyer: Unknown
- Seller: Granger Associates
- Buyer's Representative: Corey Ferguson - Raintree Commercial
- Seller's Representative: John Ferruzzo - Transwestern
- Square Footage: 110,000
The transaction involved key representatives, Ryan Searle, Nick Peterson, and John Ferruzzo of NAI Partners, who represented the seller, Granger Associates, during the sale process. Corey Ferguson represented the undisclosed buyer, facilitating the transaction.
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