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Layline Acquires 6.7-Acre Industrial Property In Hayward From UPS For $20.1M

Property Image
SOLD
$20,100,000
Craig Hagglund
DH

California

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Industrial23,000 SF
Sold 10/03/2023
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SOLD

Layline Acquires 6.7-Acre Industrial Property In Hayward From UPS For $20.1M

2348 Industrial Parkway West

See Similar Deals
Industrial23,000 SF
Sold 10/03/2023
Craig Hagglund
DH
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$873
Total Square Footage:23,000 SF
Transaction Type:Sale

Layline, an Oakland-based real estate investor, has acquired a 6.7-acre industrial property in Hayward for $20.1 million. The property, located at 2348 Industrial Parkway West, is currently vacant and will undergo renovation before being leased.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $20,100,000
  • Address: 2348 Industrial Parkway West, Hayward
  • Market: Hayward
  • Acres: 6.7

The buyer, Layline, was represented by Drew Hess and Mark English. The seller, UPS, was represented by Carol Tomé. The transaction was facilitated by broker Craig Hagglund from Lee & Associates. This acquisition marks Layline's second purchase in the Bay Area in the last four months.

Players

Craig Hagglund
Lee & Associates
Craig Hagglund
2 deals$35.6M volume
BROKER
DH
Drew Hess
2 deals$54.1M volume
BUYER
U
UPS
SELLER

Details

SOLD
IMAGE: Carol Tomé, Drew Hess & Craig Hagglund DATE: 10/03/2023 ADDRESS: 2348 Industrial Parkway West MARKET: Hayward ASSET TYPE: Industrial ~ ACRES: 6.7 BUYER: Layline - Drew Hess & Mark English SELLER: UPS - Carol Tomé BROKER: Craig Hagglund - Lee & Associates (@LeeAssociatesRE) SALE PRICE: $20,100,000 SF: 23,000 ~ PPSF: $874 NOTE: Layline, an Oakland-based real estate investor, has acquired a 6.7-acre industrial property in Hayward for $20.1 million, marking its second Bay Area purchase in four months. The property, located at 2348 Industrial Parkway West, is currently vacant and will be renovated and leased.

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Operating Expenses (Annual)
Net Operating Income (NOI)

$1,072,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,411.05
Cash-on-Cash Return-1.27%
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