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1960 Heritage Parkway

High Street Logistics Properties Acquires Industrial Property In Mansfield
SOLDIndustrial

High Street Logistics Properties Acquires Industrial Property In Mansfield

1960 Heritage Parkway

Building Size

267,622 SF

Asset Type

Industrial

Closing

Oct 18, 2023

AI

The industrial property located at 1960 Heritage Parkway in Mansfield has been sold in a recent transaction. The property spans an impressive 267,622 square feet, making it a substantial asset in the market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified

The buyer of the property is High Street Logistics Properties, represented by Andrew Zgutowicz. On the other hand, the seller, Longbow Interests, was represented by Brandon Allen. The deal was facilitated by the brokers Dom Espinosa, Dustin Volz, Stephen Bailey, and Zach Riebe from Newmark.

Players

Stephen Bailey

Newmark

Broker

$323.3M

vol

48 deals

Broker

Andrew M. Zgutowicz

High Street Logistics

Buyer

$50.4M

vol

4 deals

Buyer

Mansfield 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