Intercontinental Real Estate & Kennedy Wilson Acquire Industrial Property In Stockton From DRA Advisors
1624 Army Court
$71,800,000
$109/SF
Building Size
655,976 SF
Asset Type
Industrial
Closing
May 30, 2024
AI
The industrial property located at 1624 Army Court in Stockton was sold in a transaction involving a Joint Venture of Intercontinental Real Estate Corporation & Kennedy Wilson acquiring the asset from seller DRA Advisors. The property spans 655,976 square feet and was sold for $71,800,000, translating to a price per square foot of $109.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $71,800,000
- Buyer: Joint Venture Of Intercontinental Real Estate Corporation & Kennedy Wilson
- Seller: DRA Advisors
- Seller's Rep: Jeff Chiate , Rick Ellison & Matt Leupold - Cushman & Wakefield
- Address: 1624 Army Court, Stockton
- Market: Stockton
The deal was facilitated by Jeff Chiate, Rick Ellison & Matt Leupold from Cushman & Wakefield, representing the seller in the transaction.
Players
Stockton 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93