LCG Atrium, LLC Acquires Industrial Property In South Torrance For $21M
SOLD
$21,000,000
California
See Similar DealsIndustrial114,000 SF
Sold 08/26/2022
SOLD
LCG Atrium, LLC Acquires Industrial Property In South Torrance For $21M
23800 Hawthorne Boulevard, Torrance, California 90505, United States
See Similar DealsIndustrial114,000 SF
Sold 08/26/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:114,000 SF
Transaction Type:Sale
The industrial property located at 23800-23868 Hawthorne Blvd in South Torrance has been sold in a transaction. The property spans 114,000 square feet and is part of the South Torrance industrial market. The asset was sold for a total of $21,000,000, resulting in a price per square foot of $184.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $21,000,000
- Square Footage: 114,000
- Address: 23800-23868 Hawthorne Blvd
- Market: South Torrance
The buyer of the property is LCG Atrium, LLC, while the seller is Kay Properties. The deal was facilitated by Thacher Goodwin, Kyle Degener, and Carter Rudnick from Colliers, who acted as brokers in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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