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14128 Lake Forest Drive Nor...

Logistics Property Co. LLC Secures Three Leases Totalling 373000 Square Feet In Covington GA
LEASEDIndustrial

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

Myles Thomas

JLL

Broker

1 deal

Broker

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