Rexford Industrial Realty Inc Acquires Industrial Assets In Carson, Torrance, And Fontana For $198.1M
SOLD
$198,100,000
California
See Similar DealsIndustrial518 SF
Sold 06/01/2023
SOLD
Rexford Industrial Realty Inc Acquires Industrial Assets In Carson, Torrance, And Fontana For $198.1M
2130 East Del Amo Boulevard, Carson, California 90220, United States
See Similar DealsIndustrial518 SF
Sold 06/01/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$382,432
Total Square Footage:518 SF
Transaction Type:Sale
The industrial property located at 2130-2140 E. Del Amo Blvd., 20455 S. Reeves Ave, 19145 Gramercy Place, 14874 Jurupa Ave, and 10600 Mulberry Ave in Carson, Torrance, and Fontana has been sold. The property spans a total of 518,931 square feet and is categorized as an industrial asset. The transaction took place on January 6, 2023, with a sale price of $198,100,000, resulting in a price per square foot of $382.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $198,100,000
- Buyer: Rexford Industrial Realty Inc - Howard Schwimmer & Michael Frankel
- Seller: IDI Logistics
- Market: Carson, Torrance & Fontana
Rexford Industrial Realty Inc, represented by Howard Schwimmer and Michael Frankel, acquired the property from IDI Logistics. The buyer is an important player in the industrial real estate market, solidifying their portfolio with this acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,565,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$703,807.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$939,095.07
Annual Debt Service$11,269,140.79
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