Rexford Industrial Acquires Development Site In Long Beach For $20M
3901 Via Oro Ave, Long Beach, CA 90810, USA & 3901 Via Oro Avenue
$20,000,000
$134/SF
Building Size
148,520 SF
Asset Type
Development Site
Closing
Aug 19, 2022
AI
Rexford Industrial has acquired a development site located at 3901 Via Oro Ave in Long Beach, CA. The property, previously owned by Wonderful Company, was sold for a total price of $20,000,000. The transaction took place off-market in August 2022.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $20,000,000
- Buyer: Rexford Industrial
- Seller: Wonderful Company
- Brokers: Chad Solomon & Mark Detmer - JLL
The sale involved a two-story office building with a total square footage of 133,729. The building will be re-developed into a Class A warehouse. The price per square foot for the property was $150, and the building's square footage price was $270.
Chad Solomon and Mark Detmer, representing JLL, played a crucial role in facilitating the transaction on behalf of Rexford Industrial. Their expertise and negotiation skills contributed to the successful acquisition of the property.
Players
Long Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93