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SomeraRoad Acquires Industrial Property On Foundation Drive In Evansville, IND For $24.7M

Property Image
SOLD
$24,700,000
Maurice Nieman
IR

Indiana

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Industrial266,720 SF
Sold 06/02/2020
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Property Image
SOLD

SomeraRoad Acquires Industrial Property On Foundation Drive In Evansville, IND For $24.7M

5504 Foundation Drive, Evansville, Indiana, USA

See Similar Deals
Industrial266,720 SF
Sold 06/02/2020
Maurice Nieman
IR
the dealplayerscompscontact
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Summary

INDIANA
Asset Type:Industrial
Price Per Square Foot:$92
Total Square Footage:266,720 SF
Transaction Type:Sale

5504 Foundation Drive in Evansville, Indiana was sold in a closed transaction. The industrial property, spanning 266,720 square feet, was acquired by SomeraRoad, a real estate investment firm. The transaction was facilitated by Maurice Nieman from Savills. The sale price for the property was $24,700,000, resulting in a price per square foot of $93.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $24,700,000
  • Address: 5504 Foundation Drive, Evansville, IND
  • Market: Evansville, IND
  • Buyer: SomeraRoad - Ian Ross & Fergus Campbell
  • Broker: Maurice Nieman - Savills
  • Square Footage: 266,720
  • Price per Square Foot: $93

Notable individuals involved in the transaction include Ian Ross and Fergus Campbell from SomeraRoad, who represented the buyer's side. Maurice Nieman, from Savills, acted as the broker. This deal showcases the successful acquisition of the industrial property by SomeraRoad.

Players

Maurice Nieman
Savills
Maurice Nieman
1 deal$24.7M volume
BROKER
IR
Ian Ross
5 deals$202.5M volume
BUYER
S
SomeraRoad
BUYER

Details

SOLD
IMAGE: Ian Ross, Maurice Nieman & Fergus Campbell DATE: 06/02/2021 ADDRESS: 5504 Foundation Drive MARKET: Evansville, IND ASSET TYPE: Industrial BUYER: SomeraRoad - Ian Ross & Fergus Campbell BROKER: Maurice Nieman - Savills SALE PRICE: $24,700,000 SF: 266,720 ~ PPSF: $93

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$87,753.88
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