Updated Dec 4, 2024
W. P. Carey Acquires Industrial Facility In Shelbyville, KY For $102 Million From Flint Development
139 Logistics Drive
$102,000,000
$102/SF
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Oct 28, 2024
About this deal
AI
W. P. Carey acquired a 1 million-square-foot industrial asset located at 139 Logistics Drive in Shelbyville, KY, for a total of $102 million. The property is fully leased to Canadian Solar, which will utilize the facility to enhance its U.S. battery assembly capabilities.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $102,000,000
- Square Footage: 1,000,000
- Price Per Square Foot: $102
- Buyer: W. P. Carey
- Seller: Flint Development
- Market: Shelbyville, KY
- Brokers: Alex Cantu, Alex Davenport, Jeff Devine & Steven Disse - Colliers
This transaction involved several key individuals and firms, including the brokerage team from Colliers, consisting of Alex Cantu, Alex Davenport, Jeff Devine, and Steven Disse, who represented the buyer in this significant deal.
On the Map
$102,000,000
$102/SF
Industrial
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Players
Shelbyville 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
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93