Paul Dougherty Of PRP Real Assets Acquires Hyundai Distribution Center In Montgomery For $66.5M

PRP Real Assets acquired a newly built industrial asset located at 1169 Mitchell Young Road in Montgomery, AL. The property spans 459,680 square feet and was sold for $66,500,000, translating to a price per square foot of $145.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $66,500,000
• Buyer: Paul Dougherty
• Agency: PRP Real Assets
• Market: Montgomery, AL
• Square Footage: 459,680
• Price Per Square Foot: $145
• Lease Term: 14 years
• Property Expansion Commitment: $30,000,000
• Expansion Size: Over 240,000 square feet
• Lease Guarantee Provider: Hyundai Mobis

Paul Dougherty of PRP Real Assets played a significant role in the transaction by securing a long-term lease with Hyundai, ensuring the property will be utilized effectively. PRP's commitment to expanding the 60-acre facility indicates an ongoing investment in the site's future capabilities and growth potential.