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616 Spring Hill Drive, Spri...

Nuveen Real Estate Acquires Industrial Property In Spring For 281,481 SF
SOLDIndustrial

Nuveen Real Estate Acquires Industrial Property In Spring For 281,481 SF

616 Spring Hill Drive, Spring, Texas 77386, United States

Building Size

281,481 SF

Asset Type

Industrial

Closing

Sep 8, 2022

AI

716 Spring Hill Drive and 600 Spring Hill Drive, located in the Spring market, have been sold in a recent transaction. The industrial properties cover a combined square footage of 281,481 and were part of a sale deal.

Summary of transaction details

Nuveen Real Estate has acquired the properties located at 616 Spring Hill Drive and 600 Spring Hill Drive. The sales were facilitated by the brokerage team from CBRE, composed of Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne, and Eliza Bachhuber.

Players

Nathan Wynne

CBRE

Broker

$170.5K

vol

21 deals

Broker
Nuveen
NuveenBuyer
AEW Capital Management
AEW Capital ManagementSeller
Nuveen
NuveenLender

Spring Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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