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15431 Interstate 45

Spring Glass & Mirror Ltd Acquires 43,200 SF Industrial Building In Conroe, Texas
SOLDIndustrial

Spring Glass & Mirror Ltd Acquires 43,200 SF Industrial Building In Conroe, Texas

15431 Interstate 45

Building Size

43,200 SF

Asset Type

Industrial

Closing

Oct 4, 2023

AI

Spring Glass & Mirror Ltd. has purchased a 43,200 square foot industrial building on about 9.889 acres at 15431 Interstate 45 South in Conroe, Texas. The property, located in the Conroe market, will serve as the new headquarters for Spring Glass & Mirror. The transaction was facilitated by Michelle Soderberg of Colliers, who represented the seller, JMBG, Ltd.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Square Footage: 43,200
  • Address: 15431 Interstate 45 South
  • Market: Conroe
  • Buyer: Spring Glass & Mirror Ltd - Denise Baker
  • Seller: JMBG, Ltd
  • Buyer's Representative: Wade Nelson - Nelson Properties
  • Seller's Representative: Michelle Soderberg - Colliers

The sale of the industrial property was brokered by Wade Nelson of Nelson Properties, who represented the buyer, Spring Glass & Mirror Ltd. Denise Baker, the representative of Spring Glass & Mirror Ltd, played a key role in the purchase. With the new headquarters, Spring Glass & Mirror Ltd will have the necessary space to expand their operations and meet the growing demand for their products.

Players

Michelle Soderberg

Colliers

Broker

2 deals

Broker

Conroe 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