Updated Dec 12, 2024
Black Creek Group Acquires Industrial Property In Commerce For $50.3M
2429 South Malt Avenue, Commerce, California 90040, United States
$50,300,000
$426/SF
Building Size
118,000 SF
Asset Type
Industrial
Closing
Jul 5, 2022
About this deal
AI
A 118,000 square foot industrial property located at 2429 South Malt Avenue in Commerce has been sold for $50,300,000. The property was purchased by Black Creek Group, represented by Michael Arougheti of Ares Management. The seller, Faustinos Furniture, was represented by Faustino Limon.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $50,300,000
- Square Footage: 118,000
- Price per Square Foot: $426
- Address: 2429 South Malt Avenue, Commerce
- Market: Commerce
Michael Arougheti of Ares Management represented Black Creek Group in the purchase of the industrial property. Faustino Limon acted as the representative for Faustinos Furniture in the sale. The transaction took place on 07/06/2022.
On the Map
$50,300,000
$426/SF
Industrial
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Players
Commerce 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93