Updated Dec 4, 2024
Stag Industrial Acquires Fully Leased Industrial Property In Sparks, NV For $29.94M
655 Spice Islands Drive
$29,940,000
$181/SF
Building Size
165,000 SF
Asset Type
Industrial
Closing
Nov 15, 2023
About this deal
AI
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
Sparks 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93