Updated Sep 9, 2024
Mark Repstad Of Southland Commercial Real Estate And John Repstad Of Realty Advisory Group Represent Buyer In Lubbock Sale For $8.9M
7275 Sycamore Canyon BLVD, Riversi...
$8,900,000
$123/SF
Building Size
72,286 SF
Asset Type
Industrial
Closing
May 13, 2019
About this deal
AI
The property involved in this transaction is a single-tenant industrial facility located at 7275 Sycamore Canyon Blvd, Riverside, in the Lubbock market. It was sold for a price of $8,900,000. The facility spans 75,286 square feet and is situated on 4.3 acres. Notable characteristics include 28-foot clear heights, 10 dock-high positions, and future divisibility. At the time of the sale, the property was fully leased to a Fortune 200 tenant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,900,000.00
- Address: 7275 Sycamore Canyon Blvd, Riverside
- Square Footage: 75,286
- Market: Lubbock
- Buyer's Representative: Mark Repstad (Southland Commercial Real Estate), John Repstad (Realty Advisory Group)
- Buyer: Unknown
- Seller: Unknown
John Repstad and Mark Repstad of Realty Advisory Group represented both the seller and the undisclosed buyer in this transaction. The deal highlights the collaboration of prominent brokers in the real estate market.
Players
Lubbock 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
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93