WorkhubUSA Sells Retail Property in Magnolia, Faris Lee Investments & SVN J. Beard Real Estate Facilitates the Deal
9511 Fm 1488
Building Size
14,907 SF
Asset Type
Retail
Closing
Feb 21, 2024
AI
A fully leased 14,907-square-foot retail strip center located at 9511 Fm 1488 in Magnolia was recently sold as part of the Windcrest Village Square development. The property was transacted between the seller, WorkhubUSA, and an undisclosed buyer represented by Faris Lee Investments.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Asset Type: Retail
- Square Footage: 14,907
- Address: 9511 Fm 1488
- Market: Magnolia
Rosa Dye from SVN | J. Beard Real Estate in Greater Houston served as the seller's representative for WorkhubUSA in this transaction. On the buyer's side, Don MacLellan from Faris Lee Investments facilitated the deal, representing the undisclosed buyer in the acquisition of the retail property.
Players
Magnolia 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