BLT Enterprises Acquires Industrial Property In Costa Mesa From Fortress Investment Group 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 From Fortress Investment Group 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 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:
- Property Type: Industrial
- Transaction Amount: $23,250,000
- Address: 3539 Howard Way
- Market: Costa Mesa, CA
- Seller: Fortress Investment Group - David Hammerman
- Buyer: BLT Enterprises - Lukas Huberman & Robert Solomon
- Brokers: Jace Gan & Clyde Stauff - Colliers
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.
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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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