Investment Property Exchange Services Acquires Houston Industrial Building From Usha Martin Americas Inc
701 Plastics Ave, Houston, TX, 77020
Building Size
99,000 SF
Asset Type
Industrial
Closing
Jun 12, 2019
AI
The sale of a 99,000-square-foot industrial building located at 701 Plastics Ave in Houston, Texas has been successfully negotiated. The property was acquired by Investment Property Exchange Services. The buyer was represented by CE "Trey" Erwin III and Dalton Knipe of Lee & Associates, whereas the seller, Usha Martin Americas Inc, was represented by Read King.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 701 Plastics Ave, Houston, TX, 77020
- Market: Houston
- Buyer's Representative: CE "Trey" Erwin III (Lee & Associates)
CE "Trey" Erwin III and Dalton Knipe of Lee & Associates brokered the deal as representatives of the buyer, Investment Property Exchange Services. Similarly, Read King acted as the seller's representative, assisting Usha Martin Americas Inc in the industrial property sale.
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