David M. Marks Of Phoenix Investors Acquires Industrial Complex In Corsicana For 1.5M SF
2200 South Business 45
Building Size
1,500,000 SF
Asset Type
Industrial
Closing
Jun 25, 2025
AI
The property asset involved in this transaction is an industrial complex located at 2200 South Business 45 in Corsicana, TX, encompassing a total square footage of 1,500,000 SF and spanning 172 acres. The property was formerly utilized by K-Mart and Home Depot and is fully leased. It represents a significant addition to the acquiring party's portfolio, which now totals 82 million square feet nationally.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 1,500,000 SF
- Acres: 172
- Buyer: David M. Marks
- Buyer’s Company: Phoenix Investors
- Market: Corsicana
This transaction was facilitated by David M. Marks, representing Phoenix Investors, who noted the future expansion potential of the property with 625,000 SF set to become available between late 2025 and early 2027.
Players
Corsicana 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