(To read more on the industrial market, click here.)
CHARLOTTE, NC-Jackson, MS-based REIT EastGroup Properties hasacquired the 456,000-sf Nations Ford Business Park for $21.125million.
The four-building park was constructed in two phases in 1989 and1994. The complex is 92% leased to 13 tenants and is projected togenerate a 7.2% stabilized cash yield at 95% occupancy. EastGroupplans to bring the property to 100% occupancy. "We plan to hold itas a long-term asset," president and CEO David Hoster tellsGlobeSt.com.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
