Pagewood And Long Wharf Capital Acquire 292200 SF Industrial Complex In Houston From Abco Industrial Properties
2121 Brittmoore Road
Building Size
292,200 SF
Asset Type
Industrial
Closing
Jun 3, 2025
AI
The property asset involved in the transaction is the Crossroads at Brittmoore industrial complex, encompassing a total square footage of 292,200. Located at 2121 Brittmoore Road in Houston, this industrial property is part of a 13-building complex that is currently 91% leased.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 2121 Brittmoore Road
- Market: Houston
- Buyer: Paul Coonrod - Pagewood
- Buyer: Jeff Gandel - Long Wharf Capital
- Seller: John W. Able - Abco Industrial Properties
- Lender: Veritex Community Bank
- Leasing Status: 91% leased
- Future Plans: Pagewood plans exterior upgrades through Q3 2026
Pagewood and Long Wharf Capital have successfully acquired the property from Abco Industrial Properties. The financing for this transaction was provided by Veritex Community Bank, facilitating the change of ownership for this significant industrial asset in Houston.
Players
Houston Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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