Intercontinental Real Estate And Kennedy Wilson Acquire 40 Acre Industrial Site In Stockton For $84M
SOLD
$84,000,000
+ 2
California
See Similar DealsIndustrial877,648 SF
Sold 07/29/2022
SOLD
Intercontinental Real Estate And Kennedy Wilson Acquire 40 Acre Industrial Site In Stockton For $84M
1604 Tillie Lewis Drive, Stockton, California 95206, United States
See Similar DealsIndustrial877,648 SF
Sold 07/29/2022
+ 2
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$95
Total Square Footage:877,648 SF
Transaction Type:Sale
The industrial property located at 1604 Tillie Lewis Dr. in Stockton has been sold for a price of $84,000,000. The property spans across 40.0 acres and offers a total square footage of 877,648. The sale price per square foot stands at $95.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $84,000,000
- Address: 1604 Tillie Lewis Dr., Stockton
- Market: Stockton
- Acres: 40.0
- Square Footage: 877,648
- Price Per Square Foot: $95
The buyer of the property is Intercontinental Real Estate Corp. & Kennedy Wilson. The seller is represented by Barbara Perrier, Darla Longo, and Rebecca Perlmutter from CBRE, as well as Blake Rasmussen and Tyler Vallenari from Cushman & Wakefield.
Players
BUYER
LENDER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,480,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$298,434.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$398,202.85
Annual Debt Service$4,778,434.26
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