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7149 Logistics Ln

EQT Exeter Acquires Fully Leased Industrial Park In Fort Mill, SC For $106M
SOLDIndustrial

EQT Exeter Acquires Fully Leased Industrial Park In Fort Mill, SC For $106M

7149 Logistics Ln & 7107 Logistics Ln

$106,000,000

$53/SF

Building Size

2,000,000 SF

Asset Type

Industrial

Closing

Oct 5, 2023

AI

The fully leased Stateline 77, a 1 million-square-foot industrial park located at 7149 & 7107 Logistics Ln in Fort Mill, South Carolina, has been sold by Rockefeller Group to EQT Exeter for a total of $106 million.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $106,000,000
  • Square Footage: 1,000,000
  • Price Per Square Foot: $106
  • Address: 7149 & 7107 Logistics Ln, Fort Mill, SC
  • Market: Fort Mill, SC

EQT Exeter, represented by Ward Fitzgerald, acquired the industrial park from Daniel Moore of Rockefeller Group. The deal was facilitated by JLL brokers Britton Burdette, Dave Andrews, Josh McCardle, Michael Scarnato, and Pete Pittroff.

Players

Pete Pittroff

JLL

Broker

$450.9M

vol

9 deals

Broker
Ward Fitzgerald

Ward Fitzgerald

EQT Exeter

Buyer

$728.9M

vol

13 deals

Buyer
Daniel J. Moore

Daniel J. Moore

Rockefeller Group

Seller

$491M

vol

9 deals

Seller

Fort Mill 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

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93