LBA Logistics Acquires Commercial Property From Institutional Property Advisors In San Diego Transaction
SOLD
$46,300,000
California
See Similar DealsCommercial131,299 SF
SOLD
LBA Logistics Acquires Commercial Property From Institutional Property Advisors In San Diego Transaction
5959 Santa Fe St, San Diego, CA, 92109
See Similar DealsCommercial131,299 SF
Summary
CALIFORNIA
Asset Type:Commercial
Price Per Square Foot:$352
Total Square Footage:131,299 SF
Transaction Type:Sale
The commercial property located at 5959 Santa Fe Street in San Diego, CA, 92109, was recently sold in a transaction amounting to $46,300,000.00. The asset, a coastal distribution facility situated in the submarket of Pacific Beach and Rose Canyon, spans 131,299 square feet and sits on 7.1 acres of land.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $46,300,000.00
- Market: San Diego
- Seller's Rep: Sean Williams (Institutional Property Advisors)
- Buyer: LBA Logistics
- SF: 131299
The deal was facilitated by Matt Carlson, Hunter Rowe, Roger Carlson, Barbara Perrier, and Joe Cesta of CBRE, who represented the undisclosed seller in the sale of the property to LBA Logistics, in what was a sale-leaseback transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$164,494.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,485.62
Annual Debt Service$2,633,827.45
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