The 540K square-foot industrial distribution center is on 42.78 acres in Lebanon, TN. It was purchased by OLP for $32.8M, with an assumed mortgage of $21.5M. The mortgage carries an interest rate of 3.7% and matures in 2031.
The facility is leased for 15 years to Famous Footwear. Annual rental income is about $2.2M.
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