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
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