Gem Realty Capital Acquires Industrial Property In Milpitas For $32.8M
SOLD
$32,800,000
+ 1
California
See Similar DealsIndustrial128,000 SF
Sold 06/23/2022
SOLD
Gem Realty Capital Acquires Industrial Property In Milpitas For $32.8M
275 South Hillview Drive, Milpitas, California 95035, United States
See Similar DealsIndustrial128,000 SF
Sold 06/23/2022
+ 1
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$256
Total Square Footage:128,000 SF
Transaction Type:Sale
The industrial property located at 275 S. Hillview Dr. in Milpitas has been sold in a recent transaction. The property spans over 128,000 square feet and was sold for a total price of $32,800,000, resulting in an approximate price per square foot of $256. The sale was completed on June 23, 2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $32,800,000
- Square Footage: 128,000
- Address: 275 S. Hillview Dr., Milpitas
- Market: Milpitas
Gem Realty Capital acted as the buyer in this transaction, while Analog Devices, represented by Vincent Roche, served as the seller. The seller's representatives from Cushman & Wakefield included Kelly Yoder, Carrick Young, Steve Horton, and Todd Beatty. The involvement of these key individuals and companies played a crucial role in the successful completion of the deal.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,749,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$116,531.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$155,488.73
Annual Debt Service$1,865,864.81
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