Weiss Properties Acquires 10-Building Multi-Tenant Industrial Portfolio In Irwindale, CA For $36.65M
SOLD
$36,650,000
California
See Similar DealsIndustrial139,827 SF
Sold 06/29/2023
SOLD
Weiss Properties Acquires 10-Building Multi-Tenant Industrial Portfolio In Irwindale, CA For $36.65M
12901 Ramona Blvd Irwindale, CA 91706, USA
See Similar DealsIndustrial139,827 SF
Sold 06/29/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$262
Total Square Footage:139,827 SF
Transaction Type:Sale
A portfolio of ten multi-tenant industrial buildings in Irwindale, CA has been sold for a total of $36,650,000. The properties, located at 12901, 12921, 12941, 12961, 12981, 13001, 13101, 13105, 13139, and 13177 Ramona Boulevard, offer a combined space of 139,827 square feet. With an average price per square foot of $262, this transaction represents a significant investment opportunity in the industrial market of Irwindale.
Summary of transaction details
- Property Type: Industrial (10-Building Multi-Tenant)
- Transaction Amount: $36,650,000
- Address: 12901, 12921, 12941, 12961, 12981, 13001, 13101, 13105, 13139, and 13177 Ramona Boulevard
- Market: Irwindale, CA
- Square Footage: 139,827
- Price Per Square Foot: $262
The buyer of the portfolio is Weiss Properties, while the seller is BKM Capital Partners. Mark Detmer and Matt McRoskey from JLL represented both parties in this transaction, acting as the brokers. Their expertise and negotiation skills played a crucial role in closing the deal successfully.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,954,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$130,209.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,739.70
Annual Debt Service$2,084,876.38
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