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CH Realty Partners & Blumenfeld Development Group Acquires Industrial Property In Perris For $57.5M

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SOLD
$57,500,000

California

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Industrial333,572 SF
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SOLD

CH Realty Partners & Blumenfeld Development Group Acquires Industrial Property In Perris For $57.5M

21500 Harvill Ave, Perris, CA, USA

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Industrial333,572 SF
Sold
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$172
Total Square Footage:333572 SF
Transaction Type:Sale

Located at 21500 Harvill Ave. in Perris, this industrial property spans across 17 acres. The sale of this property was recently finalized, with the deal being facilitated by Lee & Associates and Colliers, acting as brokers. The property, with a total square footage of 333,572, was sold for a price of $57,500,000, resulting in a price per square foot of $172. The transaction took place on 09/28/2021.

Summary of transaction details

  • Property Type: Industrial
  • Sale Price: $57,500,000
  • Square Footage: 333,572
  • Price Per Square Foot: $172
  • Address: 21500 Harvill Ave., Perris
  • Market: Perris
  • Buyer: CH Realty Partners & Blumenfeld Development Group
  • Seller: Rockefeller Group - Daniel J. Moore
  • Brokers: Lee & Associates, Colliers

The buyer in this transaction, CH Realty Partners & Blumenfeld Development Group, acquired the property from the seller, Rockefeller Group, who was represented by Daniel J. Moore. Both buyer and seller were supported by their respective brokerage firms, Lee & Associates and Colliers. This transaction highlights the active market in Perris and the significant investment made in this industrial asset.

Players

BUYER

Daniel J. Moore
7 deals$395M volume
SELLER

Details

SOLD
IMAGE: Daniel J. Moore DATE: 09/28/2021 ADDRESS: 21500 Harvill Ave. MARKET: Perris ASSET TYPE: Industrial ~ ACRES: 17 BUYER: CH Realty Partners & Blumenfeld Development Group SELLER: Rockefeller Group - Daniel J. Moore BROKER: Lee & Associates & Colliers SALE PRICE: $57,500,000 SF: 333,572 ~ PPSF: $172

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$204,285.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$272,579.34
Annual Debt Service$3,270,952.02