Exeter Property Group Acquires Industrial Asset In Vista For $11.5M
SOLD
$11,500,000
+ 1
California
See Similar DealsIndustrial45,214 SF
Sold 06/21/2022
SOLD
Exeter Property Group Acquires Industrial Asset In Vista For $11.5M
1280 North Melrose Drive, Vista, California 92083, United States
See Similar DealsIndustrial45,214 SF
Sold 06/21/2022
+ 1
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$254
Total Square Footage:45,214 SF
Transaction Type:Sale
The industrial property located at 1280 N. Melrose Drive in Vista was recently sold. The property spans 45,214 square feet and was sold for a price of $11,500,000, resulting in a price per square foot of $254. The transaction took place on 06/21/2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,500,000
- Address: 1280 N. Melrose Drive
- Market: Vista
- Buyer: Exeter Property Group
- Buyer's Representative: Rusty Williams, Chris Roth & Jake Rubendall (Williams Roth Group) - Lee & Associates
- Seller's Representative: Jim Benson - Kidder Mathews
The buyer in this transaction was Exeter Property Group, while the seller was represented by Jim Benson of Kidder Mathews. The buyer's representatives were Rusty Williams, Chris Roth, and Jake Rubendall from the Williams Roth Group at Lee & Associates. This sale marks a significant transaction in the industrial market of Vista.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40
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