Nuveen Real Estate Acquires Industrial Property In Ontario From Myers Power Products For $59.6M
SOLD
$59,550,000
California
See Similar DealsIndustrial236,700 SF
Sold 08/25/2021
SOLD
Nuveen Real Estate Acquires Industrial Property In Ontario From Myers Power Products For $59.6M
2950 East Philadelphia Street, Ontario, CA, USA
See Similar DealsIndustrial236,700 SF
Sold 08/25/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$251
Total Square Footage:236,700 SF
Transaction Type:Sale
The industrial property located at 2950 East Philadelphia Street in Ontario has been sold in a transaction. The property has a total area of 236,700 square feet and is situated in the Ontario market. The sale took place on 08/25/2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $59,550,000
- Square Footage: 236,700
- Price per Square Foot: $251
- Address: 2950 East Philadelphia Street, Ontario
The buyer of the property is Nuveen Real Estate, while the seller is Myers Power Products. The transaction was facilitated by Chris Migliori from DAUM Commercial Real Estate Services, who represented the buyer as their broker representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$211,568.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$282,297.38
Annual Debt Service$3,387,568.57
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