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3333 S Grand AveLos Angeles...

Simon Parsakar Acquires Industrial Property On South Grand Avenue In Los Angeles For $21M
SOLDIndustrial

Simon Parsakar Acquires Industrial Property On South Grand Avenue In Los Angeles For $21M

3333 S Grand AveLos Angeles, CA 90007, USA

$21,000,000

$205/SF

Building Size

102,150 SF

Asset Type

Industrial

Closing

Mar 31, 2023

AI

The industrial property located at 3333 South Grand Avenue in Los Angeles has been sold in a transaction valued at $21,000,000. With a total area of 102,150 square feet, the property was sold at an approximate price per square foot of $206. The sale of this industrial asset took place on March 31, 2023, and involved the following parties:

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $21,000,000
  • Address: 3333 South Grand Avenue, Los Angeles
  • Market: Los Angeles

The buyer of the property was Simon Parsakar while the seller was the Breton Family. The transaction was facilitated by a team of brokers from two different agencies. Kevin Donner, Benjamin (Ben) Lushing, and Dillon Bergum from Newmark, and Jeff Chiate and Mike Adey from Cushman & Wakefield represented the parties involved in the deal.

Players

Kevin Donner

Newmark

Broker

$10.1B

vol

48 deals

Broker

Los Angeles 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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93