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

/

Self Storage

/

Sale

/

12501 Cardinal Meadow DrSug...

Gearment Investment LLC Acquires 50,000-Square-Foot Cold Storage Facility In Sugar Land From Mainna Investments LP
SOLDSelf Storage

Gearment Investment LLC Acquires 50,000-Square-Foot Cold Storage Facility In Sugar Land From Mainna Investments LP

12501 Cardinal Meadow DrSugar Land, TX 77478, USA

Building Size

50,000 SF

Asset Type

Self Storage

Closing

Jun 28, 2023

AI

A 50,000-square-foot cold storage facility located at 12501 Cardinal Meadow Drive in Sugar Land Business Park, Houston, has been sold. The property, built in 2000, was part of a recent transaction brokered by Partners Real Estate. The buyer, Gearment Investment LLC, purchased the facility from Mainna Investments LP.

Summary of transation details

The sale of the cold storage facility was successfully facilitated by Partners Real Estate. The deal involved key individuals such as Will Austin from Bridge Commercial, representing the buyer Gearment Investment LLC, and Chris Caudill from Partners Real Estate and John Ferruzzo from Transwestern, representing the seller Mainna Investments LP.

Players

John Ferruzzo

KBC Advisors

Broker

16 deals

Broker
ML
Mainna Investments, LPSeller

Texas Self Storage Market Snapshot

Boundary boundary · Self Storage · 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