Updated Oct 29, 2024
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
About this deal
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
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