Time Equities Inc Acquires Industrial Site In Anchorage From 58th Avenue Warehouse LLC For $9.1M
501 West 58th Avenue
$9,100,000
$189/SF
Building Size
48,001 SF
Asset Type
Industrial
Closing
Jul 8, 2024
AI
The property asset involved in this transaction is an industrial site located at 501 West 58th Avenue, Anchorage, AK. The site spans 2.44 acres and features 48,001 square feet of space. The sale was completed for $9,100,000, resulting in a price per square foot of $190.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,100,000
- Address: 501 West 58th Avenue
- Market: Anchorage, AK
- Acres: 2.44
- Square Footage: 48,001
- Price Per Square Foot: $190
- Buyer: Ami Ziff, Jonathan Kim, Grant Scott & Eli Smith - Time Equities, Inc. (TEI)
- Seller: 58TH Avenue Warehouse LLC / Chugach Alaska Corporation
- Broker: Eric Sobolik - Jack White Commercial
Time Equities, Inc. (TEI) acquired the industrial site, marking its fourth property in the Anchorage area. The location is fully leased to Platt Electric and Chugach Alaska.
Anchorage Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93