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11333 County Rd 212 Forney,...

EQT Exeter Acquires 904.5K SF Industrial Property In Forney, Texas
SOLDIndustrial

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

Stephen Bailey

Newmark

Broker

$323.3M

vol

48 deals

Broker
EQT Exeter
EQT ExeterBuyer
Grandview Partners
Grandview PartnersSeller

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