Ben Klepper Acquires Industrial Property In Houston With LandPark Commercial & Cresa
5801 Breen Drive
Building Size
50,000 SF
Asset Type
Industrial
Closing
Jun 13, 2024
AI
The industrial property located at 5801 Breen Drive in Houston was sold in a transaction involving the buyer, Ben Klepper, and the seller, Gloria Zermeno. The asset spans 50,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: Ben Klepper
- Seller: Gloria Zermeno
- Buyer's Rep: Austin Honey, Timothy Thomas & Andrew Nguyen - LandPark Commercial
- Seller's Rep: Brandon Alexander Wuntch & Drew Altmann - Cresa
The deal's key individuals involved in the transaction were the buyer's representatives, Austin Honey, Timothy Thomas, and Andrew Nguyen from LandPark Commercial, and the seller's representatives, Brandon Alexander Wuntch and Drew Altmann from Cresa.
Players
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