GLP Acquires 28-Acre Industrial Property In Perris, CA For $158M From Seller Clarion Partners
SOLD
$158,000,000
California
See Similar DealsIndustrial579,708 SF
Sold 08/30/2022
SOLD
GLP Acquires 28-Acre Industrial Property In Perris, CA For $158M From Seller Clarion Partners
3900 Indian Avenue, Perris, California 92571, United States
See Similar DealsIndustrial579,708 SF
Sold 08/30/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$272
Total Square Footage:579,708 SF
Transaction Type:Sale
The industrial property located at 3900 Indian Avenue in Perris, CA has been sold for a total of $158,000,000. The property spans across 28 acres and offers a total square footage of 579,708 with a price per square foot of $273. The transaction took place on August 30, 2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $158,000,000
- Address: 3900 Indian Avenue, Perris, CA
- Market: Perris, CA
- Acres: 28
- Buyer: GLP - Ming Z. Mei
- Seller: Clarion Partners - David Gilbert
- Square Footage: 579,708
- Price per Square Foot: $273
The buyer of the property is GLP represented by Ming Z. Mei, while the seller is Clarion Partners represented by David Gilbert. This closed transaction highlights the successful deal between these two parties in the industrial real estate market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$561,340.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$749,000.61
Annual Debt Service$8,988,007.29
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