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5438 Union Street, Corpus C...

Updated Oct 29, 2024

Howard Energy Partners (HEP) Acquires Industrial Property On Union Street In Corpus Christi
SOLDIndustrial

Howard Energy Partners (HEP) Acquires Industrial Property On Union Street In Corpus Christi

5438 Union Street, Corpus Christi, TX, USA

Building Size

8,625 SF

Asset Type

Industrial

Closing

Jan 3, 2021

About this deal

AI

The industrial property located at 5438 Union Street in Corpus Christi has recently been sold. The transaction took place on January 4, 2021, and the buyer is Howard Energy Partners (HEP), represented by Mike Howard. The seller of the property is MPLX LP.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Market: Corpus Christi
  • Seller: MPLX LP
  • Buyer: Howard Energy Partners (HEP) - Mike Howard

Mike Howard, from Howard Energy Partners, played a significant role as the buyer's representative in the deal. This successful transaction adds to the portfolio of Howard Energy Partners and further strengthens their presence in the Corpus Christi industrial market. Congratulations to all parties involved in this transaction.

Players

Corpus Christi 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

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