Stag Industrial Acquires Industrial Property In Fresno For $30.04M
SOLD
$30,040,000
California
See Similar DealsIndustrial233,840 SF
Sold 07/25/2022
SOLD
Stag Industrial Acquires Industrial Property In Fresno For $30.04M
2624 East Edgar Avenue
See Similar DealsIndustrial233,840 SF
Sold 07/25/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$128
Total Square Footage:233,840 SF
Transaction Type:Sale
The industrial property located at 2624 E. Edgar Ave. in Fresno has been sold in a closed transaction. The property spans a total of 233,840 square feet and was sold for a price of $30,040,000, resulting in a price per square foot of $128. The transaction took place between the buyer, Stag Industrial, and the seller, Candor-Ags Inc. The deal was facilitated by the brokers Jordan Alleva and Carter Lear from Newmark.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $30,040,000
- Square Footage: 233,840
- Price per Square Foot: $128
- Buyer: Stag Industrial
- Seller: Candor-Ags Inc.
- Brokers: Jordan Alleva & Carter Lear - Newmark
The acquisition of the property was completed by Stag Industrial, with support from their brokers Jordan Alleva and Carter Lear from Newmark. This transaction demonstrates the continued demand and activity within the industrial real estate market in Fresno.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,602,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,725.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,404.93
Annual Debt Service$1,708,859.11
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