Niantic Acquires Industrial Property In Conyers, GA For $14.5M
2030 East Park Drive Northeast
$14,500,000
$14/SF
Building Size
1,001,880 SF
Asset Type
Industrial
Closing
Feb 3, 2023
AI
The industrial property located at 2030 East Park Drive Northeast in Conyers, GA has been sold in a transaction. The property was acquired by Niantic from the seller, East Side Stageworks. The sale price for the property was $14,500,000. The property spans a total area of 130,738 square feet, resulting in a price per square foot of $111.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,500,000
- Address: 2030 East Park Drive Northeast, Conyers, GA
- Market: Conyers, GA
The brokers involved in this transaction were Dan Shapiro, Josh Rosen, and David Warren from KSR. They represented both the buyer, Niantic, and the seller, East Side Stageworks, throughout the deal.
An additional note from the broker mentions that the property is currently tenanted by Warner Bros. The broker's teams are actively seeking similar investment opportunities nationwide. For further information or similar opportunities, interested parties can contact the brokers.
Players
Market 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93