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1201 John Reed Court

Longpoint Realty Partners Acquires John Reed Commerce Center In City Of Industry For $80M
SOLDIndustrial

Longpoint Realty Partners Acquires John Reed Commerce Center In City Of Industry For $80M

1201 John Reed Court

$80,000,000

$290/SF

Building Size

275,000 SF

Asset Type

Industrial

Closing

Sep 9, 2023

AI

The John Reed Commerce Center, a 275,000-square-foot warehouse located at 1201 John Reed Court in the City of Industry, has been sold for $80 million. The property, previously owned by DWS Group, was acquired by Longpoint Realty Partners, expanding their presence in Southern California's industrial property market. It is currently 83% leased to 32 tenants.

Summary of transaction details

Longpoint Realty Partners, with key individuals Dwight Angelini, Nilesh Bubna, Reid Parker, and Robert Provost, acquired the John Reed Commerce Center from DWS Group. The deal was facilitated by brokers Jeff Chiate and Jeff Cole from Cushman & Wakefield.

Players

Jeff Chiate

Cushman & Wakefield

Broker

$2.8B

vol

39 deals

Broker
Dwight Angelini

Dwight Angelini

Longpoint Realty Partners

Buyer

$1.1B

vol

27 deals

Buyer
Longpoint Realty Partners
Longpoint Realty PartnersBuyer

Watsontown Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93