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

655 Spice Islands Drive
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This Industrial property located in NV was sold for $29,940,000 3 months ago.

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.

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Deals
  • Location
    655 Spice Islands Drive655 Spice Islands Drive
  • Sale Price
    $29,940,000$29,940,000
    $181 PPSF$181 PPSF
  • Area
    165,000 SF165,000 SF
  • Asset Type
    IndustrialIndustrial

Deal Summary

SALE 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.

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