Sterling Investors Purchases 310,900 Square Foot Industrial Property From Jackson-Shaw In Mesquite
2860 East Scyene Road
Building Size
310,900 SF
Asset Type
Industrial
Closing
Oct 15, 2024
AI
The transaction involved the sale of Alcott Logistics Station, an industrial property located at 2860 East Scyene Road, mesquite, Texas. The asset has a total square footage of 310,900. The transaction falls within the industrial market sector.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 2860 East Scyene Road
- Market: Mesquite
- Buyer: Sterling Investors
- Seller: Jackson-Shaw
- Broker Representatives: Caroline Wilson, Dom Espinosa, Dustin Volz, Stephen Bailey & Zach Riebe - Newmark
Newmark facilitated the transaction with a team that included brokers Dustin Volz and Stephen Bailey, who represented the seller, Jackson-Shaw, during the sale process. The buyer, Sterling Investors, acquired the property developed for Vehicle Accessories Inc.
Players
Mesquite 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