Greg Friedman Of Peachtree Group Acquires 41.4 Acre Industrial Property In Midway For $91.5M

The transaction involves an industrial property located at 122 Dorchester Village Road in Midway, Georgia. The asset spans 41.4 acres and comprises 594,522 square feet of space. The property was sold for $91,500,000, resulting in a price per square foot of $154.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $91,500,000
• Buyer: Greg Friedman - Peachtree Group
• Seller: Devin Schuster - Flint Development
• Annual Rent: $4.9 million
• Lease Terms: 10-year modified net lease with 3.5% annual increases
• Initial Cash Yield for Investors: 5%

Greg Friedman, representing Peachtree Group, was the buyer in this transaction, while Devin Schuster represented Flint Development as the seller. Peachtree Group raised the total amount through a Delaware Statutory Trust (DST) for a debt-free acquisition of the property. This acquisition is notable as it is leased to Hasbro, indicating a stable tenant for the facility.