Walgreens Occupied Retail Property Sold In Spring, Texas With Buyer’s Rep Melissa Brams
18425 Champion Forest Drive
Building Size
14,490 SF
Asset Type
Retail
Closing
Sep 30, 2024
About this deal
AI
The transaction involved a 14,490-square-foot retail property located at 18425-18535 Champion Forest Drive in the Spring market. This single-tenant property is occupied by Walgreens and was sold by a Houston-based private investor. The property details highlight its significance in the retail space within the area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 18425-18535 Champion Forest Drive
- Market: Spring
- Asset Size: 14,490 SF
- Buyer's Representative: Melissa Brams - Gerber Realty
- Seller's Representatives: Edward Hanley, Garrett Wood & Kevin Fryman - Hanley Investment Group
Hanley Investment Group facilitated the sale, representing the seller in the transaction, which provided the seller a strategic opportunity in the retail investment sector. The buyer was represented by Gerber Realty, indicating active engagement from both parties' representatives throughout the deal.
Players
Spring Retail Market Snapshot
Boundary boundary · Retail · 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