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10200 Grogans Mill Rd Sprin...

Black Forest Ventures Acquires 153,294 SF Office Buildings In Woodlands
SOLDOffice

Black Forest Ventures Acquires 153,294 SF Office Buildings In Woodlands

10200 Grogans Mill Rd Spring, TX 77380, USA

Building Size

153,294 SF

Asset Type

Office

Closing

May 26, 2023

AI

Black Forest Ventures has purchased two office buildings totaling 153,294 square feet in the Woodlands suburb of Houston. The buildings, located at 10200 Grogans Mill Road and 1610 Woodstead Road, were sold by Gemini Rosemont. The transaction took place on May 26, 2023. The office buildings are situated on a 9.7-acre property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 153,294 square feet
  • Address: 10200 Grogans Mill Road & 1610 Woodstead Road
  • Market: Woodlands

The office buildings were 66.7% leased at the time of the sale. They have a diverse tenant roster, including companies from sectors such as law, finance, civil engineering, oil and gas, technology, and consulting. The deal was facilitated by brokers Rick Goings, Marty Hogan, and Kevin McConn from JLL.

Players

Rick Goings

JLL

Broker

$115M

vol

37 deals

Broker

Gemini Rosemont

Seller

$93M

vol

5 deals

Seller

Texas Office Market Snapshot

Boundary boundary · Office · 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