Brandon Schubert Acquires 17.4 Acres Industrial Property In Fort Worth
2591 Northeast 28th Street
Building Size
757,944 SF
Asset Type
Industrial
Closing
Mar 7, 2024
AI
2591 NE 28th Street is a 17.4 acre Industrial Outdoor Storage Facility located in Fort Worth. The property includes 5 buildings totaling 26,000 SF with heavy industrial zoning. Situated right off I-35, the facility is currently leased to several industrial businesses at below-market rates, presenting a significant mark-to-market opportunity for the purchaser.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: Brandon Schubert
- Seller: Mike Jowell
- Brokers: David Guinn, Cameron Deptula & Grant Lake - Davidson Bogel Real Estate
- Market: Fort Worth
- Size: 757,944 SF
- Acres: 17.4
The industrial team at Davidson Bogel Real Estate, represented by David Guinn, Cameron Deptula, and Grant Lake, facilitated the smooth transaction for the property at 2591 NE 28th Street. The team expresses gratitude to all parties involved in the successful deal.
Players
Fort Worth 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