facebook
Traded Co logo
Submit
Daily limit: 0/10

LM Real Estate Partners Acquires Logistics Pointe Distribution Center In Charlotte For $82M

Property Image
SOLD
$82,000,000

North Carolina

See Similar Deals
Industrial879,128 SF
Sold 10/03/2023
the dealplayerscompscontact
Property Image
SOLD

LM Real Estate Partners Acquires Logistics Pointe Distribution Center In Charlotte For $82M

11922 General Drive

See Similar Deals
Industrial879,128 SF
Sold 10/03/2023
the dealplayerscompscontact
Contact now

Summary

NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$93
Total Square Footage:879,128 SF
Transaction Type:Sale

LM Real Estate Partners has acquired the Logistics Pointe Distribution Center, an 879,128-square-foot industrial property located at 11922 General Drive in Charlotte, North Carolina. The property was sold by New York Life Insurance Co for a total price of $82 million, which translates to approximately $93.27 per square foot. This 52.3-acre industrial asset is situated in the thriving market of Charlotte, NC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $82,000,000
  • Square Footage: 879,128
  • Address: 11922 General Drive, Charlotte, NC
  • Market: Charlotte, NC

Jared Marcus & John Livanos, representing LM Real Estate Partners, were the buyers of the Logistics Pointe Distribution Center. The seller of the property was New York Life Insurance Co. The transaction was facilitated by JLL, serving as the broker for the deal.

Players

LP
LM Real Estate Partners
BUYER
LP
LM Real Estate Partners
BUYER
New York Life
New York Life
SELLER
New York Life
New York Life
LENDER

Details

SOLD
IMAGE: Jared Marcus & John Livanos DATE: 10/03/2023 ADDRESS: 11922 General Drive MARKET: Charlotte, NC ASSET TYPE: Industrial ~ ACRES: 52.3 BUYER: Jared Marcus & John Livanos - LM Real Estate Partners SELLER: New York Life Insurance Co BROKER: JLL SALE PRICE: $82,000,000 SF: 879,128 ~ PPSF: $93 NOTE: LM Real Estate Partners has acquired the Logistics Pointe Distribution Center, an 879,128-square-foot industrial property in Charlotte, N.C., for $82 million, approximately $93.27 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

Contact

Get in touch with the broker you want

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)

$4,373,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$291,328.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$388,721.83
Annual Debt Service$4,664,662.01