Updated Dec 4, 2024
Stag Industrial Acquires Scott Road Commerce Center In Menifee For $36M
33360 Zeiders Road & 33380 Zeiders Road
$36,000,000
$114/SF
Building Size
157,147 SF
Asset Type
Industrial
Closing
Nov 6, 2023
About this deal
AI
Stag Industrial, a Boston-based REIT, has purchased two industrial buildings in Menifee, California's Inland Empire, for $36 million. The properties, known as Scott Road Commerce Center, offer a combined 157,147 square feet of space in an area with robust rent growth.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $36,000,000
- Address: 33360 & 33380 Zeiders Road
- Market: Menifee
- Acres: 10.6
- Buyer: Stag Industrial - Benjamin Butcher
- Seller: Jupiter Holdings - Edmond F. St. Geme
- Square Footage: 157,147
- Price per Square Foot: $229
The buyer of the Scott Road Commerce Center in Menifee is Stag Industrial, represented by Benjamin Butcher. The seller, Jupiter Holdings, is represented by Edmond F. St. Geme.
Players
Menifee 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93