Updated Dec 4, 2024
Michael Stavinoha Of Dominion International Group Represents Buyer In Houston Industrial Sale For Glenmorangie LLC
4303 South Drive
Building Size
25,992 SF
Asset Type
Industrial
Closing
Aug 6, 2024
About this deal
AI
The property involved in this transaction is a 25,992-square-foot industrial building located at 4303 South Drive in Houston, encompassing 2.17 acres. The asset is situated in a submarket with strong demand and high leasing activity, indicated by an average rental rate of $8.87 per square foot.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Address: 4303 South Drive
- Market: Houston
- Square Footage: 25,992
- Acres: 2.17
- Seller: Glenmorangie LLC
- Buyer’s Representative: Michael Stavinoha - Dominion International Group - EXP Realty
- Seller’s Representatives: Christopher Winters and Walter Menuet - Colliers International
Colliers International facilitated the sale of the property, representing the seller, Glenmorangie LLC, while Michael Stavinoha represented the buyer. This transaction highlights the activity within the Southwest Far industrial submarket of Houston, which is characterized by a high occupancy rate of 90.6%.
On the Map
Industrial
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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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93