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18425 Champion Forest Drive

Walgreens Occupied Retail Property Sold In Spring, Texas With Buyer’s Rep Melissa Brams
SOLDRetail

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

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:

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

Edward Hanley

Hanley Investment Group

Broker

$308.6M

vol

19 deals

Broker

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