Lee & Associates Brokers John Berger & Mauricio Olaiz Facilitate $56.8M Sale Of Industrial Property In Houston
8017 Breen Drive, Houston, TX, USA
$56,790,000
$148/SF
Building Size
383,750 SF
Asset Type
Industrial
Closing
Jan 31, 2021
AI
The industrial property located at 8017 Breen Drive in Houston has been sold for a total price of $56,790,000. The property spans an area of 383,750 square feet, resulting in a price per square foot of $148. The sale was conducted by brokers John Berger and Mauricio Olaiz from Lee & Associates.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $56,790,000
- Address: 8017 Breen Drive, Houston
- Square Footage: 383,750 SF
- Price per Square Foot: $148
- Brokers: John Berger & Mauricio Olaiz - Lee & Associates
John Berger and Mauricio Olaiz, representing Lee & Associates, played a pivotal role in facilitating the sale of this industrial property in Houston. They leveraged their expertise to ensure a successful transaction for all parties involved. The sale demonstrates the continued demand for industrial assets in the Houston 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93