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
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