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Octave Holdings & Investments Acquires Retail Property In Kennesaw, GA For $58.8M

Property Image
SOLD
$58,800,000

Georgia

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Retail369,971 SF
Sold 09/08/2022
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Property Image
SOLD

Octave Holdings & Investments Acquires Retail Property In Kennesaw, GA For $58.8M

740 Barrett Parkway, Kennesaw, Georgia 30144, United States

See Similar Deals
Retail369,971 SF
Sold 09/08/2022

Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:369,971 SF
Transaction Type:Sale

The retail property located at 740 Ernest W Barrett Pkwy NW in Kennesaw, GA has been sold in a recent transaction. The property spans across 369,971 square feet and was sold at a price of $58,800,000, resulting in a price per square foot of $159. The buyers of the property were Octave Holdings & Investments LLC, while the sellers were Stockbridge & Lincoln Property Co.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $58,800,000
  • Address: 740 Ernest W Barrett Pkwy NW, Kennesaw, GA
  • Market: Kennesaw, GA
  • Buyer: Octave Holdings & Investments LLC
  • Seller: Stockbridge & Lincoln Property Co
  • Square Footage: 369,971
  • Price Per Square Foot: $159

This transaction involving the retail property on Ernest W Barrett Pkwy NW brings together Octave Holdings & Investments LLC as the buyers and Stockbridge & Lincoln Property Co as the sellers. The deal was closed for a total price of $58,800,000, with the property encompassing a significant area of 369,971 square feet. This purchase marks a significant step in the retail market in Kennesaw, GA.

Players

BUYER

Details

SOLD
IMAGE: 09/08/2022 ADDRESS: 740 Ernest W Barrett Pkwy NW MARKET: Kennesaw, GA ASSET TYPE: Retail BUYER: Octave Holdings & Investments LLC SELLER: Stockbridge & Lincoln Property Co SALE PRICE: $58,800,000 SF: 369,971 ~ PPSF: $159

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Net Operating Income (NOI)

$3,136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$208,903.97
Cash-on-Cash Return-1.27%
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