Workspace Property Group, LLC Acquires 39.8 Acres In Spotsylvania From Cosner Industrial Park LC
$6,360,000
Building Size
—
Asset Type
Land
Closing
May 30, 2024
About this deal
AI
The sale involved a land asset spanning 39.8 acres located at 0 Northeast Drive in Spotsylvania County, Virginia. Workspace Property Group, LLC purchased the land from Cosner Industrial Park LC for $6,360,000, with plans for upcoming industrial development.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $6,360,000
- Location: 0 Northeast Drive, Spotsylvania, VA
- Market: Spotsylvania, VA
- Buyer: Workspace Property Group, LLC
- Seller: Cosner Industrial Park LC
- Brokers: Virgil G. Nelson & Wilson H. Greenlaw - Cushman & Wakefield
Cushman & Wakefield | Thalhimer played a role in facilitating the transaction, ensuring a successful acquisition of the 39.8-acre land by Workspace Property Group, LLC from Cosner Industrial Park LC in Spotsylvania, VA.
Players
Market Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.49%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93