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13612 Furman Road

Lunada Rose Partners Acquires Fully Leased Vault Distribution Center In Houston 185413 SF
SOLDIndustrial

Lunada Rose Partners Acquires Fully Leased Vault Distribution Center In Houston 185413 SF

13612 Furman Road

Building Size

185,413 SF

Asset Type

Industrial

Closing

Sep 10, 2024

AI

The property involved in the transaction is the Vault Distribution Center, which encompasses an industrial asset with a total area of 185,413 square feet and occupies 16 acres at 13612 Furman Road in Houston. The facility features 34 dock-high loading doors and is fully leased, currently occupied by Empire Auto Parts. The transaction was completed in an all-cash arrangement.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Undisclosed
  • Buyer: Lunada Rose Partners
  • Seller: Michael Rubenstein & Garrett Thompson - Vault Partners
  • Market: Houston
  • Asset Size: 185,413 square feet
  • Acres: 16
  • Loading Doors: 34
  • Occupant: Empire Auto Parts
  • Location: Near Highway 288

Lunada Rose Partners executed the purchase of the distribution center from Michael Rubenstein and Garrett Thompson, who represented Vault Partners in this all-cash deal. The property was developed by Vault Partners specifically for leasing purposes.

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