Black Creek Group Acquires Industrial Property In San Jose For $29.5M
SOLD
$29,500,000
California
See Similar DealsIndustrial117,442 SF
Sold 01/27/2021
SOLD
Black Creek Group Acquires Industrial Property In San Jose For $29.5M
464 North King Road, San Jose, CA, USA
See Similar DealsIndustrial117,442 SF
Sold 01/27/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$251
Total Square Footage:117,442 SF
Transaction Type:Sale
Black Creek Group has acquired a property in San Jose for $29,500,000. The industrial asset is located at 464, 650 & 652 North King Road and spans a total of 117,442 square feet. The price per square foot for this transaction was $251.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $29,500,000
- Address: 464, 650 & 652 North King Road
- Market: San Jose
- Buyer: Black Creek Group
- Seller: Orton Development
- Square Footage: 117,442
- Price Per Square Foot: $251
The deal was completed on 01/27/2021, with Bruce Gates representing the buyer, Black Creek Group, and Raj Dhanda representing the seller, Orton Development.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,807.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,845.05
Annual Debt Service$1,678,140.60
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