Updated Oct 28, 2024
Metra Electronics Sells Industrial Property In Long Beach For $11M With Buyer's Rep Michael Collins & Seller's Rep Brian Held & Rob Flores
3221 East 59th Street, Long Beach, California 90805, United States
$11,000,000
$289/SF
Building Size
38,000 SF
Asset Type
Industrial
Closing
Oct 2, 2022
About this deal
AI
The industrial property located at 3221 E 59th Street in Long Beach has been sold for a total price of $11,000,000. The property spans across an area of 2 acres and offers a total square footage of 38,000. With a price per square foot of $289, this transaction marks a significant sale in the Long Beach market. The seller of the property is Metra Electronics.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,000,000
- Address: 3221 E 59th Street
- Market: Long Beach
- Square Footage: 38,000
The buyer's representatives for this deal were Michael Collins and Dustin Hullinger from Daum Commercial Real Estate Services. On the other hand, Brian Held and Rob Flores from CBRE acted as the seller's representatives. Their expertise and negotiation skills played a crucial role in the successful completion of this transaction.
On the Map
$11,000,000
$289/SF
Industrial
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Players
Long Beach 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93