Updated May 12, 2025
Michael O'Sullivan Of Burlington Distribution Acquires Industrial Asset From BlackRock For $257M
21600 Cactus Avenue
$257,000,000
$288/SF
Building Size
889,445 SF
Asset Type
Industrial
Closing
Apr 3, 2025
About this deal
AI
An industrial asset consisting of a warehouse with a total square footage of 889,445 has been sold for $257,000,000. The property is located at 21600 Cactus Avenue in the Riverside market, with a price per square foot of approximately $289.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $257,000,000
- Square Footage: 889,445
- Address: 21600 Cactus Avenue
- Market: Riverside
- Price Per Square Foot: $289
- Buyer: Michael O'Sullivan - Burlington Distribution
- Seller: Larry Fink - BlackRock
- Brokers: Cory Whitman & Mark Zorn - Colliers
In this transaction, Michael O'Sullivan represented Burlington Distribution as the buyer, while Larry Fink represented BlackRock as the seller. The deal was facilitated by brokers Cory Whitman and Mark Zorn from Colliers, highlighting their role in bringing both parties together.
On the Map
$257,000,000
$288/SF
Industrial
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Players
March Air Reserve Base 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93