BLT Enterprises Acquires Industrial Property In Costa Mesa, CA For $23.25M
SOLD
$17,000,000
California
See Similar DealsIndustrial13,741 SF
Sold 12/08/2021
SOLD
BLT Enterprises Acquires Industrial Property In Costa Mesa, CA For $23.25M
3539 Howard Way, Costa Mesa, California, USA
See Similar DealsIndustrial13,741 SF
Sold 12/08/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$1,237
Total Square Footage:13,741 SF
Transaction Type:Sale
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:
- Property Type: Industrial
- Transaction Amount: $23,250,000
- Buyer: BLT Enterprises - Robert Solomon & Lukas Huberman
- Seller: Fortress Investment Group - David Hammerman
- Brokers: Brad McCoy, Conor Halloran & David Wilson - Lee West LA
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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