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3539 Howard Way

BLT Enterprises Acquires Industrial Property In Costa Mesa From Fortress Investment Group For $23.25M
SOLDIndustrial

BLT Enterprises Acquires Industrial Property In Costa Mesa From Fortress Investment Group For $23.25M

3539 Howard Way

$23,250,000

$176/SF

Building Size

131,551 SF

Asset Type

Industrial

Closing

Sep 13, 2022

AI

The property asset involved in this transaction is an industrial space located at 3539 Howard Way in Costa Mesa, CA. The sale price of the property was $23,250,000, encompassing a total square footage of 131,551, which results in a price per square foot of $177.

Summary of transaction details:

In this deal, Fortress Investment Group was represented by David Hammerman, while the buyer, BLT Enterprises, was represented by Lukas Huberman and Robert Solomon. The brokerage team facilitating the transaction included Jace Gan and Clyde Stauff from Colliers.

Players

Clyde Stauff

Colliers

Broker

$186.8M

vol

6 deals

Broker
Lukas Huberman

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

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93