BLT Enterprises Acquires Industrial Property In Costa Mesa For $23.25M
SOLD
$23,250,000
California
See Similar DealsIndustrial131,551 SF
Sold 09/13/2022
SOLD
BLT Enterprises Acquires Industrial Property In Costa Mesa For $23.25M
3539 Howard Way
See Similar DealsIndustrial131,551 SF
Sold 09/13/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$176
Total Square Footage:131,551 SF
Transaction Type:Sale
The industrial property located at 3539 Howard Way in Costa Mesa, CA has been sold in a closed transaction. The property spans an area of 131,551 square feet and was purchased for a price of $23,250,000, resulting in a price per square foot of $177.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $23,250,000
- Address: 3539 Howard Way, Costa Mesa, CA
- Market: Costa Mesa, CA
- Buyer: BLT Enterprises - Robert Solomon & Lukas Huberman (Lukas.Ian)
- Seller: Fortress Investment Group - David Hammerman
- Brokers: Brad McCoy, Conor Halloran & David Wilson - Lee West LA
Brad McCoy, Conor Halloran, and David Wilson, representing Lee West LA, facilitated the transaction as brokers. The buyer, BLT Enterprises, was represented by Robert Solomon and Lukas Huberman (Lukas.Ian), while the seller, Fortress Investment Group, was represented by David Hammerman.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,240,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,602.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$110,216.86
Annual Debt Service$1,322,602.34
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