Updated Dec 18, 2024
Dave Zealear Of Faropoint Acquires Industrial Property In Norcross For $8.46M
1400 Beaver Ruin Road
$8,463,636
$115/SF
Building Size
73,000 SF
Asset Type
Industrial
Closing
Dec 17, 2024
About this deal
AI
The transaction involves the sale of an industrial asset located at 1400 Beaver Ruin Road in Norcross, GA. The property has a total square footage of 73,000 and was sold for a price of $8,463,636, resulting in a price per square foot of approximately $116.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,463,636
- Square Footage: 73,000
- Address: 1400 Beaver Ruin Road
- Market: Norcross, GA
- Buyer: Dave Zealear - Faropoint
- Broker: Kurt Hediger - Graystone Capital Advisors
Graystone Capital Advisors represented the seller in this transaction, facilitating the sale of the distribution center to Faropoint, which has plans to renovate and reposition the property following the acquisition.
Norcross Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93