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NewQuest Properties Brokers $10M Sale Of Industrial Facility Near Houston's George Bush International Airport

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SOLD
$10,000,000

Texas

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Industrial75,767 SF
Sold 10/30/2023
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Property Image
SOLD

NewQuest Properties Brokers $10M Sale Of Industrial Facility Near Houston's George Bush International Airport

2430 Farrell Road

See Similar Deals
Industrial75,767 SF
Sold 10/30/2023
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$132
Total Square Footage:75,767 SF
Transaction Type:Sale

A 75,767-square-foot industrial facility near George Bush International Airport has been sold in Houston for $10 million. The facility, which serves the gas turbine industry and is home to Allied Power Group, was sold by Sublime Properties. The buyer, a Canadian family office, was represented by Marc Peeler of NewQuest Properties.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $10,000,000
  • Address: 2430 Farrell Road
  • Market: Houston
  • Acres: 6.5
  • SF: 75,767
  • PPSF: $132

NewQuest Properties brokered the sale of this industrial facility. Marc Peeler of NewQuest represented both the seller, Sublime Properties, and the buyer, a Canadian family office.

Players

Marc Peeler
Partners Real Estate
Marc Peeler
16 deals$10M volume(713) 275-9606
BROKER

Details

SOLD
IMAGE: Marc Peeler DATE: 10/30/2023 ADDRESS: 2430 Farrell Road MARKET: Houston ASSET TYPE: Industrial ~ ACRES: 6.5 SELLER: Sublime Properties BROKER: Marc Peeler (@Peezy7) - NewQuest Properties (@NQ_Properties) SALE PRICE: $10,000,000 SF: 75,767 ~ PPSF: $132 NOTE: Houston-based NewQuest Properties has brokered the $10 million sale of a 75,767-square-foot industrial facility near George Bush International Airport. The facility, serving the gas turbine industry and home to Allied Power Group, was sold by Sublime Properties, with Marc Peeler of NewQuest representing the seller and the buyer being a Canadian family office.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
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