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875 West Central Texas Expr...

Private Investment Group Acquires 14,150 SF Net Lease Property With Takeda Pharmaceuticals Guarantee In Harker Heights, Texas
SOLDOffice

Private Investment Group Acquires 14,150 SF Net Lease Property With Takeda Pharmaceuticals Guarantee In Harker Heights, Texas

875 West Central Texas Expressway

Building Size

14,150 SF

Asset Type

Office

Closing

Sep 11, 2023

AI

Marcus & Millichap has sold a 14,150-square-foot net lease property in Harker Heights, Texas. The property, located at 875 West Central Texas Expressway, was sold to a private investment group. The transaction involved a triple net lease and a guarantee from Takeda Pharmaceuticals.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 14,150
  • Address: 875 West Central Texas Expressway
  • Market: Harker Heights

The sale of this net lease property was facilitated by brokers Austin Weisenbeck, Sean R. Sharko, and Daniel Chumbley from Marcus & Millichap. Their expertise and negotiation skills played a key role in finalizing the deal.

Players

Austin Weisenbeck

Marcus & Millichap

Broker

$316.5M

vol

53 deals

Broker

Harker Heights 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