Link Logistics & Western RealCo Acquires Industrial Property In Corona For $61.7M
SOLD
$61,700,000
California
See Similar DealsIndustrial157,421 SF
Sold 01/21/2022
SOLD
Link Logistics & Western RealCo Acquires Industrial Property In Corona For $61.7M
1375 Magnolia Avenue, Corona, California 92879, United States
See Similar DealsIndustrial157,421 SF
Sold 01/21/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$391
Total Square Footage:157,421 SF
Transaction Type:Sale
A 16.5-acre industrial property located at 1375 Magnolia Ave in Corona has been sold for $61,700,000. The property spans 157,421 square feet, resulting in a price per square foot of $391. The sale was facilitated by Jeff Chiate, Mike Adey, and Brad Brandenburg from Cushman & Wakefield on behalf of the seller, McWane Inc. The buyers, Link Logistics and Western RealCo, acquired the property.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $61,700,000
- Address: 1375 Magnolia Ave.
- Market: Corona
- Acres: 16.5
Jeff Chiate, Mike Adey, and Brad Brandenburg, representing Cushman & Wakefield, played a crucial role in facilitating the transaction between the buyer, Link Logistics and Western RealCo, and the seller, McWane Inc.
Players
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BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,290,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$219,207.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$292,489.48
Annual Debt Service$3,509,873.73
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