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27260 Meines Street, Highla...

Lovett Industrial Acquires Development Site In Highland For $51M
SOLDDevelopment Site

Lovett Industrial Acquires Development Site In Highland For $51M

27260 Meines Street, Highland, California 92346, United States

$51,000,000

Building Size

Asset Type

Development Site

Closing

Sep 5, 2022

AI

The development site located at 27260 Meines Street in Highland has been sold in a recent transaction. This property spans across 13 acres and is situated in the Highland market. The sale took place on 09/06/2022, with Lovett Industrial acquiring the site for a total price of $51,000,000.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $51,000,000
  • Address: 27260 Meines Street
  • Market: Highland
  • Acres: 13

Tyler Banton, representing Lovett Industrial, acted as the buyer for this transaction. On the other hand, KCB Towers served as the seller. The deal was facilitated by Austin Hill, Tyler Plata, and Holden Edmondson, who are brokers from Lee & Associates.

Players

Austin Hill

Lee & Associates

Broker

$51M

vol

2 deals

Broker
LI
Lovett IndustrialBuyer

Highland Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93