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7101 North Loop East

Harbor Capital Acquires Northport Business Park Industrial Property In Houston
SOLDIndustrial

Harbor Capital Acquires Northport Business Park Industrial Property In Houston

7101 North Loop East

Building Size

127,000 SF

Asset Type

Industrial

Closing

Sep 20, 2023

AI

The multi-tenant industrial property known as Northport Business Park in Houston has been sold to Harbor Capital, according to a deal brokered by Colliers Houston. The property, located at 7101-7157 North Loop East, encompasses 127,000 square feet and sits on an 8-acre site within Houston's Northeast Highway 90 Industrial submarket. It offers high visibility, dock-high loading, and convenient access to major thoroughfares via Loop 610.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 7101-7157 North Loop East, Houston
  • Square Footage: 127,000

The buyer in this transaction is Harbor Capital, represented by Charlie McCain. On the seller's side, Sealy & Company was represented by Scott P. Sealy, Sr. Additional representation for the buyer was provided by Jason Scholtz from Colliers, while Jason Gandy and Derrick Jones from Sealy & Company acted as the seller's representatives.

Players

Jason Gandy

Sealy & Company

Broker

$140M

vol

5 deals

Broker
Harbor Capital
Harbor CapitalBuyer

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