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7204 Harms Rd, Houston, TX,...

Finial Group Acquires Harms Road Business Park In Houston For 124,000 SF
SOLDIndustrial

Finial Group Acquires Harms Road Business Park In Houston For 124,000 SF

7204 Harms Rd, Houston, TX, 77041

Building Size

124,000 SF

Asset Type

Industrial

Closing

Jan 10, 2020

AI

The Harms Road Business Park in Houston's Northwest submarket has been sold in a recent transaction. The industrial park, located at 7204-7214 Harms Road, consists of five single-tenant buildings totaling 124,000 square feet. The buildings were constructed between 2014 and 2018 and boast clear heights ranging from 28 to 30 feet, 22 overhead doors, office space, and overhead cranes with capacities between 10 and 20 tons.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Undisclosed
  • Address: 7204 Harms Rd, Houston, TX, 77041
  • Market: Houston
  • Seller's Rep: Travis Landrum, Trent Agnew
  • Buyer: Finial Group
  • SF: 124,000

The sale of the Harms Road Business Park was facilitated by a team of brokers including Trent Agnew, Charlie Strauss, and Ethan Goldberg of JLL, and Travis Land of NAI Partners. The seller, United Equities Inc., entrusted these professionals with representing them in this transaction. The industrial park was purchased by a partnership between Finial Group and Senterra LLC, marking a significant acquisition in the Houston industrial real estate market.

Players

Trent Agnew

JLL

Broker

$486M

vol

64 deals

Broker
Finial Group
Finial GroupBrokerage
Finial Group
Finial GroupBuyer

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