Reagan Swinbank Purchases Industrial Property From Mandeep Singh For $5.6M In New Caney Texas
18700 Eastex Freeway
$5,600,000
$233/SF
Building Size
24,000 SF
Asset Type
Industrial
Closing
Jan 23, 2025
AI
The industrial property located at 18700 US Hwy 59 in New Caney, Texas, encompasses a total square footage of 24,000 and was sold for $5,600,000, equating to a price per square foot of $233. The asset sits on 3.5 acres of land.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,600,000
- Sale Date: 01/23/2025
- Buyer: Reagan Swinbank
- Seller: Mandeep Singh
- Broker: Boomer White - RevKo Commercial Real Estate
- Lease: Snider Fleet Solutions signed a 10-year lease
- Lease Start Date: March 2025
- Lease Area: 24,000 SF facility
- Remaining Land Use: Truck parking operation on 5 acres
Boomer White represented the buyer, Reagan Swinbank, in this transaction while also handling the lease agreement with Snider Fleet Solutions. This strategic move allows Snider to occupy the entire facility upon their lease commencement.
Humble 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93