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Alere Property Group Acquires Industrial Property In Riverside For $199.3M

Property Image
SOLD
$199,250,000
Brad Brandenburg
Mike Adey
+ 3

California

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Industrial709,081 SF
Sold 01/25/2022
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Property Image
SOLD

Alere Property Group Acquires Industrial Property In Riverside For $199.3M

2677 Cahuenga Boulevard West, Los Angeles, California 90068, United States

See Similar Deals
Industrial709,081 SF
Sold 01/25/2022
Brad Brandenburg
Mike Adey
+ 3
Contact now

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

8 deals$589.1M volume
BROKER


Jeff Chiate
Cushman & Wakefield
38 deals$2.7B volume
BROKER

Brad Brandenburg
Cushman & Wakefield
11 deals$934.6M volume
BROKER

Matt Leupold
Cushman & Wakefield
14 deals$1.1B volume
BROKER

Jeffrey (Jeff) Cole
Cushman & Wakefield
22 deals$1.9B volume
BROKER

BUYER

Details

SOLD
IMAGE: Mike Adey, Jeffrey Cole, Jeff Chiate, Brad Brandenburg, Matt Leupold & Ed Hernandez DATE: 01/25/2022 ADDRESS: 2677 East Alessandro Boulevard MARKET: Riverside ASSET TYPE: Industrial ~ ACRES: 39 BUYER: Alere Property Group SELLER: Crow Holdings Industrial BROKERS: Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Brad Brandenburg & Matt Leupold - Cushman & Wakefield SALE PRICE: $199,250,000 SF: 709,081 ~ PPSF: $280

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Deal Type
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