Updated Dec 4, 2024
IP Capital Partners LLC Acquires Smyrna Distribution Center From Sagard Real Estate For $26.4M
2250 Midway Lane
$26,400,000
$98/SF
Building Size
267,597 SF
Asset Type
Industrial
Closing
Jul 8, 2024
About this deal
AI
The Smyrna Distribution Center, located in Smyrna, TN, is an industrial asset that has been sold for a total price of $26,400,000. This asset comprises 267,597 square feet, translating to a price per square foot of $99. The property has experienced a significant value increase of 35% compared to its previous sale price of $19.5 million in 2021.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,400,000
- Sale Date: 07/08/2024
- Buyer: IP Capital Partners, LLC
- Seller: Sagard Real Estate
- Brokers: Max Smith & Zac Cypress - Colliers International
- Square Footage: 267,597
- Price Per Square Foot: $99
The transaction involved IP Capital Partners, LLC as the buyer, acquiring the warehouse from Sagard Real Estate. The sale was facilitated by brokers Max Smith and Zac Cypress, representing the seller through Colliers International.
Smyrna 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93