David Carter Of Colliers Facilitates Sale At 16701 Greenspoint Park Drive, Houston
16701 Greenspoint Park Drive
Building Size
89,820 SF
Asset Type
Office
Closing
Mar 18, 2024
AI
An office building spanning approximately 89,820 square feet, located at 16701 Greenspoint Park Drive in Houston, situated on 3.63 acres of land was recently sold in Houston's North Houston District. The three-story Intercontinental Park III features a multi-tenant setup, a three-story atrium lobby, ample parking, and a peaceful campus-like setting within the North Belt/Greenspoint office submarket.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 16701 Greenspoint Park Drive
- Market: Houston
- Seller: Greenspoint Property Management
- Buyer's Rep: Bill Ginder - Caldwell Companies
- Seller's Rep: David Carter - Colliers International
Colliers International played a crucial role in facilitating the sale of the office building, representing both the private buyer and seller. The property offers a serene environment with its campus-like setting, making it an attractive investment opportunity in the bustling North Houston District.
Players
Houston 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