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Principal Real Estate Investors Acquires Industrial Assets In Doraville, Atlanta, Georgia, & Jacksonville For $49M

Property Image
SOLD
$49,000,000
Jim Freeman
Bradley "Brad" Pope
+ 5

Florida

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Industrial367,820 SF
Sold 03/15/2022
the dealplayerscompscontact
Property Image
SOLD

Principal Real Estate Investors Acquires Industrial Assets In Doraville, Atlanta, Georgia, & Jacksonville For $49M

4345 Perimeter Industrial Pkwy N, Jacksonville, Florida 32219, United States

See Similar Deals
Industrial367,820 SF
Sold 03/15/2022
Jim Freeman
Bradley "Brad" Pope
+ 5
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$133
Total Square Footage:367,820 SF
Transaction Type:Sale

The property involved in this closed transaction is an industrial asset located at 2650 Button Gwinnett Dr & 4345 Perimeter Industrial Parkway North in Doraville, Atlanta, Georgia, and Jacksonville. The property spans 367,820 square feet and has been sold for a price of $49,000,000, resulting in a price per square foot of $133. The transaction took place on 03/15/2022 between the buyer, Principal Real Estate Investors, and the seller, Rooker.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $49,000,000
  • Address: 2650 Button Gwinnett Dr & 4345 Perimeter Industrial Parkway North, Doraville, Atlanta, Georgia, and Jacksonville
  • Square Footage: 367,820
  • Price per Square Foot: $133

The deal was facilitated by JLL Capital Markets. The brokers involved in the transaction were Matt Wirth, Luis Castillo, Dennis Mitchell, Britton Burdette, Jim Freeman, Cody Brais, Luke Pope, and Brad Pope. They represented their respective parties in the negotiation and closing of the deal.

Players

Luis Castillo
54 deals$1.8B volume(305) 495-5969
BROKER

Cody Brais
JLL
37 deals$1.7B volume
BROKER

Dennis Mitchell
JLL
19 deals$1.2B volume
BROKER

Matt Wirth
JLL
12 deals$638.5M volume
BROKER

Britton Burdette
JLL
19 deals$1.3B volume
BROKER

Jim Freeman
JLL
14 deals$911.7M volume
BROKER

Luke Pope
JLL
5 deals$126.3M volume(904) 356-4550
BROKER

Bradley "Brad" Pope
JLL
1 deal$49M volume
BROKER

Principal Real Estate Investors
BUYER

Details

SOLD
IMAGE: Luis Castillo, Brad Pope, Matt Wirth, Dennis Mitchell, Cody Brais, Britton Burdette, Luke Pope & Jim Freeman DATE: 03/15/2022 ADDRESS: 2650 Button Gwinnett Dr & 4345 Perimeter Industrial Parkway North MARKET: Doraville, Atlanta, Georgia, & Jacksonville ASSET TYPE: Industrial BUYER: Principal Real Estate Investors SELLER: Rooker BROKERS: Matt Wirth, Luis Castillo, Dennis Mitchell, Britton Burdette, Jim Freeman, Cody Brais, Luke Pope & Brad Pope - JLL Capital Markets SALE PRICE: $49,000,000 SF: 367,820 ~ PPSF: $133

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$174,086.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$232,285.00
Annual Debt Service$2,787,419.98