CBRE Investment Management Acquires 480614 Square Foot Industrial Property In McKinney From Transwestern Development Co
801 Harry Mckillop Boulevard
Building Size
480,614 SF
Asset Type
Industrial
Closing
Oct 16, 2024
AI
An industrial property consisting of 480,614 square feet located at 801 Harry McKillop Boulevard in McKinney, Texas, part of the McKinney National Business Park, was sold. The asset was previously owned by Transwestern Development Co. and has now been acquired by CBRE Investment Management.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Address: 801 Harry McKillop Boulevard
- Market: McKinney
- Asset Size: 480,614 SF
- Buyer: CBRE Investment Management
- Seller: Transwestern Development Co.
- Brokers: Caroline Wilson, Dom Espinosa, Dustin Volz, Jack Fraker, Stephen Bailey & Zach Riebe - Newmark
Newmark facilitated the transaction involving the selling and buying parties, highlighting the roles of Caroline Wilson, Dom Espinosa, Dustin Volz, Jack Fraker, Stephen Bailey, and Zach Riebe as the brokers representing the deal.
Players
McKinney 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