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LM Real Estate Partners Acquires Industrial Property In Mooresville NC For $48 Million
SOLD
$48,000,000
North Carolina
See Similar DealsIndustrial237,734 SF
Sold 04/22/2025
SOLD
LM Real Estate Partners Acquires Industrial Property In Mooresville NC For $48 Million
105 Corporate Center Drive
See Similar DealsIndustrial237,734 SF
Sold 04/22/2025
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$201
Total Square Footage:237,734 SF
Transaction Type:Sale
LM Real Estate Partners purchased a 237,734 square-foot industrial property located at 105 Corporate Center Drive in Mooresville, NC, for $48 million. The property was sold by Atlanta Property Group, and the sale resulted in a price per square foot of $202.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $48,000,000
- Address: 105 Corporate Center Drive
- Market: Mooresville, NC
- Square Footage: 237,734
- Price per Square Foot: $202
- Buyer: LM Real Estate Partners
- Seller: Atlanta Property Group
- Broker: JLL Capital Markets
JLL Capital Markets facilitated the transaction between LM Real Estate Partners and Atlanta Property Group, highlighting the roles of the involved companies in executing this closed deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,560,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,533.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$227,544.49
Annual Debt Service$2,730,533.86
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