Logistics Property Co. LLC Secures Three Leases Totalling 373000 Square Feet In Covington GA
14128 Lake Forest Drive Northeast
Building Size
373,000 SF
Asset Type
Industrial
Closing
Mar 27, 2025
AI
The property asset involved in this transaction is a large industrial facility located at 14128 Lake Forest Drive Northeast, Covington, GA, encompassing a total square footage of 373,000. The leases secured by Logistics Property Co. LLC include a full-building deal at Building 100 and additional leases at Building 200, with 97,000 square feet still available for lease in the latter building.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 14128 Lake Forest Drive Northeast
- Market: Covington, GA
- Asset Size: 373,000 SF
- Landlord: Logistics Property Co. LLC
- Tenant's Representative: Myles Thomas - JLL
- Landlord's Representatives: Matt Bentley & Nathan Anderson - NAI Brannen Goddard
This lease transaction involved multiple parties, including Logistics Property Co. LLC as the landlord, which has engaged in securing three leases with undisclosed manufacturing and assembly tenants at Covington Commerce Center. The tenant's representative, Myles Thomas from JLL, is coordinating on behalf of the tenants, while the landlord is represented by Matt Bentley and Nathan Anderson from NAI Brannen Goddard.
Players
Covington Industrial Market Snapshot
Boundary boundary · Industrial · Lease 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