Buchanan Street Partners Acquires Industrial Property In Chula Vista For $26.4M
SOLD
$26,400,000
California
See Similar DealsIndustrial95,000 SF
Sold 08/23/2020
SOLD
Buchanan Street Partners Acquires Industrial Property In Chula Vista For $26.4M
3296 Heritage Rd, Chula Vista, CA, USA
See Similar DealsIndustrial95,000 SF
Sold 08/23/2020
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$277
Total Square Footage:95,000 SF
Transaction Type:Sale
Located at 3296 Heritage Rd. in Chula Vista, this industrial property has recently been sold in a closed transaction. The property spans across 95,000 square feet and has been acquired by Buchanan Street Partners for a sale price of $26,400,000. The price per square foot is approximately $277. The seller in this transaction was HomeFed Corporation.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $26,400,000
- SF: 95,000
- PPSF: $277
- Buyer: Buchanan Street Partners - Feerooz Yacoobi
- Seller: HomeFed Corporation
Feerooz Yacoobi, representing Buchanan Street Partners, played a key role as the buyer's representative in this transaction. His expertise and negotiation skills contributed to the successful acquisition of this industrial property in Chula Vista.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,408,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$93,793.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,149.47
Annual Debt Service$1,501,793.62
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