Property Reserve Acquires Industrial Property In Bloomington For $102M
SOLD
$102,000,000
California
See Similar DealsIndustrial344,000 SF
Sold 07/06/2022
SOLD
Property Reserve Acquires Industrial Property In Bloomington For $102M
18025 Slover Avenue, Bloomington, California 92316, United States
See Similar DealsIndustrial344,000 SF
Sold 07/06/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$296
Total Square Footage:344,000 SF
Transaction Type:Sale
Property Reserve has purchased an industrial asset located at 18025 Slover Avenue in Bloomington. The property, with a total area of 344,000 square feet, was sold by Crow Holdings, represented by Bob McLain. The transaction took place on July 6, 2022, and was facilitated by brokers from JLL, namely Mark Detmer, Ryan Sitov, and Evan Moran.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $102,000,000
- Square Feet: 344,000
- Price per Square Foot: $296
- Address: 18025 Slover Avenue, Bloomington
- Market: Bloomington
The purchase price for the industrial property was $102,000,000, with a price per square foot of $296. The transaction involved brokers from JLL, including Mark Detmer, Ryan Sitov, and Evan Moran, who represented Crow Holdings in the sale. The deal was finalized on July 6, 2022.
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SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,440,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$362,384.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$483,532.04
Annual Debt Service$5,802,384.46
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