Realterm US Acquires Industrial Property In Torrance For $81M
SOLD
$81,000,000
California
See Similar DealsIndustrial118,000 SF
Sold 10/06/2020
SOLD
Realterm US Acquires Industrial Property In Torrance For $81M
2751 Skypark Dr, Torrance, CA 90505, USA
See Similar DealsIndustrial118,000 SF
Sold 10/06/2020
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$686
Total Square Footage:118,000 SF
Transaction Type:Sale
Located at 2751 Skypark Dr in Torrance, this industrial property was recently sold in a closed transaction. The property spans 118,000 square feet and was sold for $81,000,000, resulting in a price per square foot of $686.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $81,000,000
- Square Footage: 118,000
- Price per Square Foot: $686
- Address: 2751 Skypark Dr
- Market: Torrance
The buyer in this transaction was Realterm US, represented by Robert Fordi. On the other side, Bridge Development Partners, represented by Steve Poulos, acted as the seller. These key individuals were instrumental in facilitating this successful deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,320,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$287,775.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$383,981.32
Annual Debt Service$4,607,775.89
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