Updated Dec 18, 2024
David Wang And Yong Lin Acquire Industrial Property From Christen Vestal For $18 Million In Houston
7916 Hall Road
$18,000,000
$129/SF
Building Size
139,000 SF
Asset Type
Industrial
Closing
Dec 12, 2024
About this deal
AI
The transaction involves the sale of an industrial building located at 7916 Hall Road in Houston. The property has a total area of 139,000 square feet and was sold for $18,000,000, reflecting a price per square foot of $129.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $18,000,000
- Square Footage: 139,000
- Address: 7916 Hall Road
- Market: Houston
- Buyer: David Wang & Yong Lin
- Seller: Christen Vestal - Provident Realty Advisors
- Buyer's Representative: David Wang - PropNex Realty Group
- Seller's Representatives: Taylor Schmidt, Robert McGee & Austin Bartula - Lee & Associates
- Price per Square Foot: $129
This sale was facilitated by Provident Industrial, with Lee and Associates acting on behalf of the seller, Christen Vestal. David Wang of PropNex Realty represented the buyers in this transaction, highlighting the active roles of brokerage firms in facilitating the deal.
On the Map
$18,000,000
$129/SF
Industrial
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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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93