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
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