Rexford Industrial Realty Acquires Glassell Park Industrial Asset For $43M
SOLD
$43,000,000
California
See Similar DealsIndustrial117,000 SF
Sold 02/28/2022
SOLD
Rexford Industrial Realty Acquires Glassell Park Industrial Asset For $43M
2800 Casitas Avenue, Los Angeles, California 90039, United States
See Similar DealsIndustrial117,000 SF
Sold 02/28/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$367
Total Square Footage:117,000 SF
Transaction Type:Sale
Rexford Industrial Realty has acquired a industrial property located at 2800 Casitas Ave. in the Glassell Park market. The property spans 117,000 square feet and was sold by Pan Am Equities. The transaction took place on February 28, 2022, with a sale price of $43,000,000. The price per square foot for this transaction amounts to $367.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $43,000,000
- Address: 2800 Casitas Ave.
- Market: Glassell Park
- Buyer: Rexford Industrial Realty - Patrick Schlehuber
- Seller: Pan Am Equities
- Square Footage: 117,000
- Price Per Square Foot: $367
Patrick Schlehuber, representing Rexford Industrial Realty, was the buyer's representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25
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