Updated Dec 4, 2024
GLP Acquires 28-Acre Industrial Property In Perris, CA For $158M From Seller Clarion Partners
3900 Indian Avenue, Perris, California 92571, United States
$158,000,000
$272/SF
Building Size
579,708 SF
Asset Type
Industrial
Closing
Aug 29, 2022
About this deal
AI
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.
On the Map
$158,000,000
$272/SF
Industrial
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Players
Perris 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93