TF Warren Group Acquires 33000 SF Property At 25000 Pitkin Rd Spring From Rayford Professional Building Ltd
25000 Pitkin Rd, Spring, TX, 77386
Building Size
33,000 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in the transaction is a 33,000-square-foot office building located at 25000 Pitkin Rd, Spring, TX, 77386. It is situated in the Spring market and is designed to accommodate businesses within the commercial sector.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Buyer: TF Warren Group
- Seller: Rayford Professional Building Ltd
- Buyer's Representative: David Alexander-Newcor Commercial Real Estate
- Seller's Representatives: Rob Banzhaf, David Alexander, and Ryan Dierker-Newcor Commercial Real Estate
This transaction marks a significant acquisition for TF Warren Group, a firm servicing the oil and gas industry, indicating an expansion in their operational footprint. The representation by Newcor Commercial Real Estate showcases their involvement in both sides of the deal, reflecting the firm’s expertise in commercial real estate transactions.
Players
Spring 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93