Updated Dec 4, 2024
Longpoint Realty Partners Acquires Two Industrial Buildings In Commerce For $10.8M
2854 Supply Avenue & 6480 Corvette Street
$10,800,000
$117/SF
Building Size
45,879 SF
Asset Type
Industrial
Closing
Nov 16, 2023
About this deal
AI
Boston-based real estate investment firm Longpoint Realty Partners, represented by Dwight Angelini of Longpoint Realty Partners, has acquired two industrial buildings totaling 45,879 square feet in Los Angeles County. The properties, located at 2854 Supply Avenue and 6480 Corvette Street in Commerce, CA, were purchased for a total of $10,800,000. This strategic acquisition allows Longpoint Realty Partners to expand its portfolio in Southern California's sought-after industrial market. The company plans to make improvements to the properties and lease them to local distributors, wholesalers, or e-commerce tenants.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,800,000
- Square Footage: 45,879
- Market: Commerce
- Buyer: Longpoint Realty Partners
- Seller: Not specified
- Broker: Alex Blecksmith - Colliers
- Date: 11/16/2023
Alex Blecksmith from Colliers represented Longpoint Realty Partners in the transaction, facilitating the successful acquisition of the properties.
Players
Commerce Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93