Fortinet Acquires 60,000 SF Industrial Property In East Bay For $65M
SOLD
$65,000,000
California
See Similar DealsIndustrial60,000 SF
Sold 08/01/2022
SOLD
Fortinet Acquires 60,000 SF Industrial Property In East Bay For $65M
1551 Atlantic Street, Union City, California 94587, United States
See Similar DealsIndustrial60,000 SF
Sold 08/01/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$1,083
Total Square Footage:60,000 SF
Transaction Type:Sale
The industrial property located at 1551 Atlantic Street in East Bay has been sold in a transaction. The property spans 60,000 square feet and was sold for a price of $65,000,000, resulting in a price per square foot of $1,083. The sale was completed on August 1, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $65,000,000
- Address: 1551 Atlantic Street
- Market: East Bay
The buyer for this property is Fortinet represented by Ken Xie. The seller is DWS Group/RREEF. Ken Xie acted as the broker representative for Fortinet in this deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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