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GLP Capital Partners Acquires Industrial Property In Jurupa Valley For $125.5M

Property Image
SOLD
$125,500,000

California

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Industrial329,831 SF
Sold 07/18/2023
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SOLD

GLP Capital Partners Acquires Industrial Property In Jurupa Valley For $125.5M

4345 Parkhurst St Jurupa Valley, CA 91752, USA

See Similar Deals
Industrial329,831 SF
Sold 07/18/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$380
Total Square Footage:329,831 SF
Transaction Type:Sale

GLP Capital Partners has purchased a 329,831 square-foot distribution center located at 4345 Parkhurst Street in Jurupa Valley, California. The industrial property was acquired from the State Teachers Retirement System of Ohio for a total of $125.5 million. This transaction marks one of GLP Capital Partners' recent acquisitions in the Inland Empire market.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $125,500,000
  • Square footage: 329,831
  • Address: 4345 Parkhurst Street, Jurupa Valley, California
  • Market: Jurupa Valley

The buyer, GLP Capital Partners, led by Alan Yang, saw potential in this distribution center, currently utilized by Petco. Despite slight increases in vacancy rates, the rental rates in the Inland Empire market have been on the rise. This purchase further solidifies GLP Capital Partners' presence in the region and demonstrates their confidence in the local market.

Players

AY
GLP Capital Partners
Alan Yang
9 deals$801.2M volume
BUYER

Details

SOLD
IMAGE: Alan Yang DATE: 07/18/2023 ADDRESS: 4345 Parkhurst Street MARKET: Jurupa Valley ASSET TYPE: Industrial BUYER: GLP Capital Partners - Alan Yang SELLER: State Teachers Retirement System SALE PRICE: $125,500,000 SF: 329,831 ~ PPSF: $380 NOTE: GLP Capital Partners has purchased a 329,831 square-foot distribution center in Jurupa Valley, California, from the State Teachers Retirement System of Ohio for $125.5 million. The industrial property, currently used by Petco, is one of GLP Capital Partners' recent acquisitions in the Inland Empire, where rental rates are increasing despite slight increases in vacancy.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$445,875.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$594,934.03
Annual Debt Service$7,139,208.33