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3539 Howard Way, Costa Mesa...

BLT Enterprises Acquires Industrial Property In Costa Mesa, CA For $23.25M
SOLDIndustrial

BLT Enterprises Acquires Industrial Property In Costa Mesa, CA For $23.25M

3539 Howard Way, Costa Mesa, California, USA

$17,000,000

$1,237/SF

Building Size

13,741 SF

Asset Type

Industrial

Closing

Dec 7, 2021

AI

The industrial property located at 3539 Howard Way in Costa Mesa, CA, was sold for $23,250,000. The asset spans 131,551 square feet, resulting in a price per square foot of $177.

Summary of transaction details:

The transaction involved key players including Robert Solomon and Lukas Huberman from BLT Enterprises, acting as the buyers, and David Hammerman representing Fortress Investment Group as the seller. The brokerage team from Lee West LA included Brad McCoy, Conor Halloran, and David Wilson, highlighting their role in facilitating the deal.

Players

Lukas Huberman

BLT Enterprises

Buyer

$69.4M

vol

4 deals

Buyer

David Hammerman

Fortress Investment Group

Seller

$63.5M

vol

3 deals

Seller
Fortress Investment Group
Fortress Investment GroupLender

Costa Mesa Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93