American National Insurance Company Sells 395,182 Square Foot Office Tower In Galveston To Undisclosed Buyer
1902 Market Street
Building Size
395,182 SF
Asset Type
Office
Closing
Jun 30, 2026
About this deal
AI
American National Insurance Company sold a vacant office tower located at 1902 Market Street in Galveston, Texas. The asset encompasses 395,182 square feet and was marketed as a repositioning or redevelopment opportunity through an online auction platform.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Undisclosed
- Address: 1902 Market Street
- Market: Galveston, TX
- Square Footage: 395,182
- Seller: Tim Walsh - American National Insurance Company
- Broker: Marcus & Millichap
Marcus & Millichap acted as the broker in this transaction, facilitating the sale for American National Insurance Company. The deal involved a 23-story property that was marketed to potential buyers seeking investment opportunities in the office real estate sector.
On the Map
Office
View full map
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas office sales on Traded.
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