facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Retail

/

Sale

/

600 Cooke Drive

Marc English Of Sapphire Bay Land Holdings Acquires Land In Rockwall From Sunny Patel
SOLDRetail

Marc English Of Sapphire Bay Land Holdings Acquires Land In Rockwall From Sunny Patel

600 Cooke Drive

Building Size

85,116 SF

Asset Type

Retail

Closing

Oct 16, 2024

AI

The property involved in the transaction is a hotel pad site located at 600 Cooke Drive in Rockwall, consisting of approximately 1.954 acres with a total square footage of 85,116. The site is part of Sapphire Bay, a mixed-use development situated at the intersection of Interstate 30 and Dalrock Rd in Rowlett, Texas.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: Not disclosed
  • Buyer: Marc English - Sapphire Bay Land Holdings
  • Seller: Sunny Patel - Yuvraj Management
  • Brokers: Giancarlo "GC" Carriero, CCIM & Scott Rodgers - DuWest Realty
  • Development: 130 room +/- Tempo by Hilton Hotel
  • Date of Transaction: 10/16/2024

This transaction was facilitated by DuWest Realty, who successfully closed the deal bringing Shiv Hospitality Group into the project. The development aims to enhance local amenities and is a key component of the vibrant Sapphire Bay project that will benefit residents and visitors in the area.

Players

Giancarlo Carrier​​​​o, CCIM

Broker

$2.7M

vol

4 deals

Broker

Rowlett Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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