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3901 Via Oro Ave, Long Beac...

Rexford Industrial Acquires Development Site In Long Beach For $20M
SOLDDevelopment Site

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

Mark Detmer

JLL

Broker

$1.1B

vol

17 deals

Broker
Rexford Industrial
Rexford IndustrialBrokerage
Rexford Industrial
Rexford IndustrialBuyer

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