Alere Property Group Acquires Industrial Property In Riverside For $199.3M
SOLD
California
See Similar DealsIndustrial709,081 SF
Sold 01/25/2022
SOLD
Alere Property Group Acquires Industrial Property In Riverside For $199.3M
2677 Cahuenga Boulevard West, Los Angeles, California 90068, United States
See Similar DealsIndustrial709,081 SF
Sold 01/25/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$281
Total Square Footage:709,081 SF
Transaction Type:Sale
The industrial property located at 2677 East Alessandro Boulevard in Riverside has been sold. The property spans across 39 acres and is part of the industrial asset class.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $199,250,000
- Square Footage: 709,081
- Price Per Square Foot: $280
- Address: 2677 East Alessandro Boulevard, Riverside
- Market: Riverside
The buyer of the property is Alere Property Group, while Crow Holdings Industrial is the seller. The deal was facilitated by brokers Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Brad Brandenburg, and Matt Leupold from Cushman & Wakefield.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,626,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$707,893.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$944,546.65
Annual Debt Service$11,334,559.83
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