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19820 Hempstead Hwy, Housto...

Tazz Enterprise Purchases 88492 SF Property From Unknown REIT With Seller's Reps From Colliers International
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Tazz Enterprise Purchases 88492 SF Property From Unknown REIT With Seller's Reps From Colliers International

19820 Hempstead Hwy, Houston, TX...

Building Size

88,492 SF

Asset Type

Retail

Closing

Jan 16, 2020

AI

The property involved in this transaction is an 88,492-square-foot retail building located at 19820 Hempstead Hwy in Houston, TX. This building was formerly occupied by Gander Mountain and is situated within the Houston market.

Summary of transaction details:

The key individuals involved in the deal include Kimberly Lenardson and Robert Hantgan, who are also representatives from Colliers International, ensuring representation for the undisclosed seller in the transaction. The buyer, Tazz Enterprise, a local investment firm, plans to convert the retail building into a multi-level entertainment center.

Players

Ace Schlameus

Colliers

Broker

5 deals

Broker
UR
Unknown REITSeller

Houston 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