EQT Exeter Acquires Mixed-Use Asset In Duluth, GA For $36.25M
2400 Commerce Ave
$36,250,000
$125/SF
Building Size
289,000 SF
Asset Type
Mixed-use
Closing
May 28, 2024
About this deal
AI
Satellite Place, a 289,000-square-foot flex office and industrial complex located at 2400 Commerce Ave in Duluth, GA, has been acquired by EQT Exeter for $36.25 million. The asset, a mixed-use property, was sold at a price of approximately $125 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $36,250,000
- Buyer: EQT Exeter
- Broker: Casey Keitchen - Newmark
- Market: Duluth, GA
EQT Exeter, the buyer in this transaction, aims to enhance the value of Satellite Place by expanding the industrial space within the complex. The deal was facilitated by Casey Keitchen of Newmark, who represented the buyer in this acquisition.
On the Map
$36,250,000
$125/SF
Mixed-use
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Players
Duluth Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93