Nuveen Real Estate Acquires Industrial Property In Ontario From Myers Power Products For $59.6M
2950 East Philadelphia Street, Ontario, CA, USA
$59,550,000
$251/SF
Building Size
236,700 SF
Asset Type
Industrial
Closing
Aug 25, 2021
AI
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.
Players
Ontario 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93