Institutional Buyer Acquires Fully Leased Northmark Commerce Center In Haltom City, Dallas-Fort Worth
3951 Old Denton Road
Building Size
234,000 SF
Asset Type
Industrial
Closing
Jan 4, 2024
AI
An institutional buyer has purchased the fully leased, 234,000-square-foot Northmark Commerce Center in Haltom City, Dallas-Fort Worth. The property is located at 3951 Old Denton Road and sits on 20 acres of land. This industrial asset is situated in a high-growth logistics hub, approximately seven miles north of downtown Fort Worth. The transaction took place on 01/04/2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 234,000
- Address: 3951 Old Denton Road
- Market: Haltom City
- Acres: 20
The sellers of the Northmark Commerce Center were David Sellers, representing Creation Equity, and Michael Levy, representing a real estate fund advised by Crow Holdings Capital. Newmark brokers Chloie Johnson Mercer, Dom Espinosa, Dustin Volz, Jack Fraker, Stephen Bailey, Taylor Hare, and Zach Riebe facilitated the transaction.
Players
Haltom City 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