Seattle Investor Acquires Industrial Property In Killeen For $2.8M

A industrial property located at 701 N 46th Street in Killeen has been sold. The property spans 45,100 square feet. It was sold by a family trust for approximately $2.8 million. The transaction took place on July 13, 2020. The buyer was a Seattle investor who acquired it in a 1031 exchange at a cap rate of 5.5%. The deal was facilitated by broker Joe Garrett of Sperry Commercial.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $2.8 million
• Date: July 13, 2020
• Address: 701 N 46th Street
• Market: Killeen
• Asset Type: Industrial
• Square Footage: 45,100
• Broker: Joe Garrett - Sperry Commercial

The seller, a family trust, was seeking about $2.8 million, according to a sales flyer. The buyer, a Seattle investor, acquired the property in a 1031 exchange. The deal closed at a cap rate of 5.5%. This transaction demonstrates the continued interest in industrial properties in the Killeen market.