Westcore Acquires Woodland And Lancaster Industrial Properties For $108M With Sellers Conor Flynn And Kimco Realty Corp
SOLD
$108,000,000
+ 3
California
See Similar DealsIndustrial1,400,000 SF
Sold 06/15/2021
SOLD
Westcore Acquires Woodland And Lancaster Industrial Properties For $108M With Sellers Conor Flynn And Kimco Realty Corp
2801 West Street, Woodland, CA, USA
See Similar DealsIndustrial1,400,000 SF
Sold 06/15/2021
+ 3
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$77
Total Square Footage:1,400,000 SF
Transaction Type:Sale
An industrial property in Woodland and Lancaster has been sold for a price of $108,000,000. The property spans 1,400,000 square feet, resulting in a price per square foot of $77. The property is located at 2801 West Ave and 1744 East Beamer St.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $108,000,000
- Market: Woodland, Lancaster
- Address: 2801 West Ave, 1744 East Beamer St
- Buyer: Westcore - Marc Brutten, Donald H. Ankeny & Drew Alexander
- Seller: Kimco Realty Corp. - Conor Flynn
- Brokers: Darla Longo, Barbara Emmons & Rebecca Perlmutter - CBRE
The buyer of the property is Westcore, represented by Marc Brutten, Donald H. Ankeny, and Drew Alexander. The seller is Kimco Realty Corp., represented by Conor Flynn. The sale of the property was facilitated by brokers Darla Longo, Barbara Emmons, and Rebecca Perlmutter from CBRE.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,760,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$383,701.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$511,975.10
Annual Debt Service$6,143,701.19
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