NewQuest Properties Brokers $10M Sale Of Industrial Facility Near Houston's George Bush International Airport
2430 Farrell Road
$10,000,000
$132/SF
Building Size
75,767 SF
Asset Type
Industrial
Closing
Oct 30, 2023
AI
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
Houston 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93