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2121 Brittmoore Road

Pagewood And Long Wharf Capital Acquire 292200 SF Industrial Complex In Houston From Abco Industrial Properties
SOLDIndustrial

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

Paul Coonrod

Pagewood

Buyer

3 deals

Buyer
Long Wharf Capital
Long Wharf CapitalBuyer

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