CXRE Announces Sale Of Multifamily Property In La Porte, TX To 10914 LLC

The sale of a multifamily property in La Porte, TX has been announced by CXRE, LLC, a leading commercial real estate brokerage firm. The property, located at 10914 N L Street, consists of 17 units and spans an area of 5,000 square feet. The transaction was facilitated by brokers Cody Pruitt and Robin Francis-Baker from CXRE.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: Not mentioned
• Date: 12/02/2021
• Address: 10914 N L Street
• Market: La Porte, TX
• Number of Units: 17
• Square Footage: 5,000

The buyer of the property is 10914 LLC, while the seller is Oakdale Estate LLC. The successful sale was achieved despite the property being considered non-conforming under the previous city ordinance. In order to comply with the new ownership, both the buyer and seller collaborated to obtain a change in the city ordinance. Cody Pruitt and Robin Francis-Baker, representing CXRE, played a crucial role in navigating this process.

The RV Park property generated multiple offers, even during the escrow process, highlighting the high demand for this sought-after asset. Pruitt mentioned that the current market climate presents a great opportunity for investors to benefit from cash flow and explore new acquisitions. CXRE, with offices in Houston, Dallas, and Austin, offers a range of services, including investment analysis, property management, and advisory, which sets them apart from their competitors.

This transaction demonstrates CXRE's expertise and successful track record in the commercial real estate industry. For more than two decades, they have satisfied repeat investors by providing fast-paced, client-focused services.