Covington Group Acquires Industrial Property In Santa Clarita For $109.7M
25530 Springbrook Avenue, Santa Clarita, CA 91350
$109,700,000
$109/SF
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Dec 22, 2021
AI
The industrial property located at 25530-25765 Springbrook Avenue in Santa Clarita has been sold. The property spans an area of 69.5 acres. The transaction took place on December 22, 2021.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $109,700,000
- Square Footage: 1,000,000
- Price per Square Foot: $109
- Address: 25530-25765 Springbrook Avenue, Santa Clarita
- Market: Santa Clarita
The buyer of the property is Covington Group, represented by Ken Sheer. TMC Properties acted as the seller in this transaction. The deal was facilitated by Craig Peters and Doug Sonderegger of CBRE.
Players
Santa Clarita Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93