1450 Manhattan LLC Acquires Industrial Warehouse In Fullerton For $13.3M
1450 Manhattan Avenue
$13,300,000
$275/SF
Building Size
48,235 SF
Asset Type
Industrial
Closing
Mar 29, 2024
AI
An industrial warehouse spanning 48,235 square feet on 2.2 acres of land at 1450-1456 South Manhattan Avenue in Fullerton, Orange County, was recently sold for $13.3 million. The transaction involved the buyer, 1450 Manhattan LLC, acquiring the property from the seller, Salher LLC. The sale was facilitated by buyer's representatives Erik Sikes and Garrett McClelland from Voit Real Estate Services, along with seller's representatives Byron Foss, Wade Tift, and Nick Carey from JLL.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $13,300,000
- Address: 1450-1456 South Manhattan Avenue
- Market: Fullerton
- Square Footage: 48,235
- Price Per Square Foot: $276
- Buyer: 1450 Manhattan LLC
- Seller: Salher LLC
- Buyer's Representative: Erik Sikes & Garrett McClelland - Voit Real Estate Services
- Seller's Representative: Byron Foss, Nick Carey & Wade Tift - JLL
Voit Real Estate Services, through their brokers Garrett McClelland and Erik Sikes, successfully brokered the sale of the industrial property in Fullerton to Anaheim-based 1450 Manhattan LLC. On the other side of the deal, JLL's representatives Byron Foss, Wade Tift, and Nick Carey navigated the transaction on behalf of the seller, Salher LLC. The collaboration between these key individuals and companies led to the seamless completion of the $13.3 million sale.
Players
Fullerton Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93