Eastgroup Properties Acquires Industrial Property In Grapevine For $89.7M
SOLD
$89,700,000
Texas
See Similar DealsIndustrial611,000 SF
Sold 08/31/2021
SOLD
Eastgroup Properties Acquires Industrial Property In Grapevine For $89.7M
1160 Mustang Court, Grapevine, TX, USA
See Similar DealsIndustrial611,000 SF
Sold 08/31/2021
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$146
Total Square Footage:611,000 SF
Transaction Type:Sale
Located in Grapevine, the industrial property at 1160 Mustang Dr has been sold in a closed transaction. The property spans 611,000 square feet and was sold for a total price of $89,700,000, resulting in a price per square foot of $147. The buyer in the transaction is Eastgroup Properties, represented by Marshall A. Loeb.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $89,700,000
- Address: 1160 Mustang Dr
- Market: Grapevine
This transaction showcases the active presence of Eastgroup Properties, as they acquire the industrial property at 1160 Mustang Dr in Grapevine. The buyer's representative, Marshall A. Loeb, played a vital role in facilitating the deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,783,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$318,685.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$425,223.76
Annual Debt Service$5,102,685.15
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