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4102 Greenwood Dr, Corpus C...

Government Investment Partners Sells Occupied Office Facility In Corpus Christi
SOLDOffice

Government Investment Partners Sells Occupied Office Facility In Corpus Christi

4102 Greenwood Dr, Corpus Christi, TX 78416, USA

Building Size

51,307 SF

Asset Type

Office

Closing

Sep 17, 2020

AI

The recently closed property transaction in Corpus Christi involved an office asset located at 4102 Greenwood Drive. This mission-critical government-leased facility, built in 1995 and renovated in 2010, spans a total of 51,307 square feet. Currently, the facility is fully occupied by the DFPS, ensuring a stable rental income.

Summary of transaction details

The sellers in this transaction were Government Investment Partners. The deal was facilitated by Geoff Ficke & Zack Ficke from Colliers International, who represented the parties involved in the transaction. Corpus Christi's market served as the backdrop for this successful closing, highlighting the demand for office space in the area.

Players

Geoff Ficke

Colliers

Broker

$4.9M

vol

4 deals

Broker
GP
Government Investment PartnersSeller

Corpus Christi 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