LandPark Advisors Brokers Sale Of Office Building In Houston To Unknown Buyer
397 N Sam Houston Pkwy E, Houston...
Building Size
68,000 SF
Asset Type
Office
Closing
Nov 22, 2023
AI
The 68,000-square-foot office building located at 397 N. Sam Houston Parkway in Houston has been sold. Situated on three acres near Beltway 8, Interstate 45, and George Bush Intercontinental Airport, the property includes a three-story parking deck. Will McGrath and Ryan Burnaman of LandPark Advisors represented the seller, JLC Omni LLC, in this transaction. The buyer remains unknown, and other terms of the sale were not disclosed.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 397 N Sam Houston Pkwy E, Houston
- Market: Houston
- Seller's Rep: Ryan Burnaman(LandPark Advisors), Will McGrath(LandPark Commercial)
- SF: 68,000
The sale of the office building at 397 N. Sam Houston Parkway involved key individuals from LandPark Advisors LLC, namely Ryan Burnaman and Will McGrath, as they represented the seller, JLC Omni LLC. The deal showcases the expertise and negotiation skills of these real estate professionals in the Houston market.
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