Updated Oct 29, 2024
CIRE Equity Acquires Goodyear Tire Distribution Facility In Victorville For $67.5M
17477 Nisqualli Rd Victorville, CA 92395, USA
$67,500,000
$81/SF
Building Size
829,000 SF
Asset Type
Industrial
Closing
Jul 5, 2023
About this deal
AI
Goodyear Tire has completed a sale-leaseback of an 829,000-square-foot distribution facility in the Inland Empire, Southern California. CIRE Equity acquired the property for $67.5 million. The facility is located at 17477 Nisqualli Road in Victorville and sits on 40 acres of land. The transaction took place on July 5, 2023, in the Victorville market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $67,500,000
- Address: 17477 Nisqualli Road
- Market: Victorville
- Asset Size: 829,000 square feet
- Acres: 40
In this deal, CIRE Equity represented the buyer, while Goodyear Tire was the seller. Umpqua Bank served as the lender for the transaction. The price per square foot for the property was $81. The region of Inland Empire in Southern California has a highly active industrial real estate market, with high transaction volumes and significant rent gains.
Players
Los Angeles 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93