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2550 Mcmillian Parkway

Ron Sturgeon Real Estate Acquires 137083 SF McMillan Center In Fort Worth From Gyant Coors LLC
SOLDIndustrial

Ron Sturgeon Real Estate Acquires 137083 SF McMillan Center In Fort Worth From Gyant Coors LLC

2550 Mcmillian Parkway

Building Size

137,083 SF

Asset Type

Industrial

Closing

Dec 2, 2024

AI

The property asset involved in the transaction is the McMillan Center, an industrial facility located at 2550 Mcmillian Parkway in Fort Worth. This asset spans 137,083 square feet and is situated on a 9.9-acre lot with rail access. The transaction was conducted as an off-market deal.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 2550 Mcmillian Parkway
  • Market: Fort Worth
  • Square Footage: 137,083
  • Acres: 9.9
  • Buyer: Ron Sturgeon - Ron Sturgeon Real Estate
  • Seller: Gyant Coors LLC, Gyant Josh Road LLC & Gyant V LLC
  • Buyer's Representative: Shane Benner - Bradford Commercial Real Estate Services
  • Seller's Representative: Todd Hawpe - Transwestern

Key individuals involved in the transaction include Ron Sturgeon, who is acquiring the property as the new headquarters for Ron Sturgeon Real Estate. The deal was brokered by Shane Benner, while the seller was represented by Todd Hawpe. The property previously functioned as a Coors distribution center and is set for renovations, with plans for two smaller buildings to be available for lease.

Players

Shane Benner

Bradford Commercial Real Estate Services

Broker

7 deals

Broker

Fort Worth 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