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8474 Market Place Dr, South...

The RMR Group Acquires Industrial Properties Portfolio For $206M
SOLDIndustrial

The RMR Group Acquires Industrial Properties Portfolio For $206M

8474 Market Place Dr, Southaven, Mississippi 38671, United States

$206,000,000

$82/SF

Building Size

2,500,000 SF

Asset Type

Industrial

Closing

Dec 27, 2021

AI

The industrial property located at 2353 Global Drive, 2373 Global Drive, 16920 W. Commerce Drive, 6380 E Holmes Rd, 481 Airport Industrial Dr., and 8474 Market Place Dr. has been sold in a closed transaction. The buyer, The RMR Group, acquired the property from Industrial Logistics Properties Trust, represented by John Murray. The sale price for the property was $206,000,000. The total square footage of the property is 2,500,000, resulting in a price per square foot of $82.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $206,000,000
  • Square Footage: 2,500,000
  • Price per Square Foot: $82
  • Buyer: The RMR Group
  • Seller: Industrial Logistics Properties Trust - John Murray
  • Market: Columbus OH, Goodyear AZ, Memphis, Southaven MS

The transaction involving the industrial property was facilitated by John Murray representing Industrial Logistics Properties Trust. This deal marks a significant transaction in the industrial property market, with The RMR Group acquiring the property from Industrial Logistics Properties Trust for a substantial amount. The details of the transaction highlight the active commercial real estate market in the respective markets of Columbus OH, Goodyear AZ, Memphis, and Southaven MS.

Players

TG
The RMR GroupBuyer

John Murray

Seller

$430.5M

vol

4 deals

Seller

Southaven 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

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93