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
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