EQT Exeter Acquires 904.5K SF Industrial Property In Forney, Texas
11333 County Rd 212 Forney, TX 75126
Building Size
904,495 SF
Asset Type
Industrial
Closing
Jul 7, 2023
AI
Logistics Crossing, a 904,495-square-foot cross-dock industrial property located at 11333 County Road 212 in Forney, Texas, has been sold to EQT Exeter. The property, which is fully leased to Knight-Swift, features high clear height, dock doors, and trailer stalls. It was delivered earlier this year, making it a relatively new asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Market: Forney
- Address: 11333 County Road 212
- Square Footage: 904,495
The buyer, EQT Exeter, acquired Logistics Crossing from the sellers, Stillwater Capital and Grandview Partners. The transaction was facilitated by the brokers Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Caroline Wilson, Taylor Hare, and Chloie Mercer, all representing Newmark. Their expertise in the market and negotiation skills played a crucial role in finalizing the deal.
Players
Texas 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93