facebook
Traded Co logo
Submit
Daily limit: 0/10

Stag Industrial Acquires Fully Leased Industrial Property In Sparks, NV For $29.94M

Property Image
SOLD
$29,940,000

Nevada

See Similar Deals
Industrial165,000 SF
Sold 11/15/2023
the dealdetailscomps
Property Image
SOLD

Stag Industrial Acquires Fully Leased Industrial Property In Sparks, NV For $29.94M

655 Spice Islands Drive

See Similar Deals
Industrial165,000 SF
Sold 11/15/2023
the dealdetailscomps

Summary

NEVADA
Asset Type:Industrial
Price Per Square Foot:$181
Total Square Footage:165,000 SF
Transaction Type:Sale

An industrial property located at 655 Spice Islands Drive in Sparks, Nevada has been sold for $29.94 million. The property spans across 8.36 acres and features a total area of 165,000 square feet. The transaction was completed on November 15, 2023.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $29,940,000
  • Address: 655 Spice Islands Drive, Sparks, NV
  • Market: Sparks, NV
  • Square Footage: 165,000

The buyer, Stag Industrial Inc, acquired the property from Rishi Kapoor, who represented Investcorp & Benedetti Co as the seller. The deal was facilitated by Colliers as the broker.

It is important to note that the industrial property at 655 Spice Island Drive is fully leased. The acquisition by Stag Industrial Inc was completed at a per square foot price of $181.45.

Players

Stag Industrial
Stag Industrial
BUYER
Investcorp
Investcorp
SELLER

Details

SOLD
IMAGE: Bill Crooker & Rishi Kapoor DATE: 11/15/2023 ADDRESS: 655 Spice Islands Drive MARKET: Sparks, NV ASSET TYPE: Industrial ~ ACRES: 8.36 BUYER: Bill Crooker - Stag Industrial Inc SELLER: Rishi Kapoor - Investcorp & Benedetti Co BROKER: Colliers SALE PRICE: $29,940,000 SF: 165,000 ~ PPSF: $181 NOTE: Stag Industrial Inc. has acquired a fully leased 165,000-square-foot industrial property at 655 Spice Island Drive in Sparks, Nevada, for $29.94 million, or $181.45 per square foot.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,596,799.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,370.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$141,930.87
Annual Debt Service$1,703,170.50