Starwood Capital Group Acquires Amazon Distribution Facility In Fredericksburg For $146.3M

The property asset involved in this transaction is an 81-acre industrial facility located at 220 Centreport Parkway in Fredericksburg, Virginia. The facility encompasses 630,000 square feet and was sold for $146.3 million, translating to a price per square foot of $232. The property was previously owned by Peterson Companies and has been identified as a distribution facility for Amazon.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $146,300,000
• Buyer: Starwood Capital Group
• Seller: Peterson Companies
• Square Footage: 630,000
• Price Per Square Foot: $232
• Loan Amount: $97,000,000
• Loan Maturity: October 2031
• Year Built: 2022
• Site Area: 81 acres
• Market: Fredericksburg, VA

The transaction involved Starwood Capital Group acting as the buyer, acquiring the property from the seller, Peterson Companies. The financing for the acquisition was supported by Truist Bank, providing a significant loan as part of the transaction, which highlights the financial involvement required in this significant property transfer.