Finn Capital Acquires Burlingame Industrial Property For $55M
SOLD
$55,000,000
+ 1
California
See Similar DealsIndustrial278,905 SF
Sold 07/19/2020
SOLD
Finn Capital Acquires Burlingame Industrial Property For $55M
1649 Adrian Road, Burlingame, CA, USA
See Similar DealsIndustrial278,905 SF
Sold 07/19/2020
+ 1
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$197
Total Square Footage:278,905 SF
Transaction Type:Sale
An industrial property located at 1649 Adrian Road in Burlingame has been sold for $55,000,000. The property spans a total of 278,905 square feet, with a price per square foot of $197.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $55,000,000
- Address: 1649 Adrian Road
- Market: Burlingame
- Buyer: Finn Capital
- Brokers: Tim Maas, Mike Davis, Tony Crossley & Darren Kuiper - Colliers
The sale was facilitated by Tim Maas, Mike Davis, Tony Crossley, and Darren Kuiper from Colliers, who represented Finn Capital in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,933,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72
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