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Realty Income Corp Acquires Woodland Industrial Property From Walgreens For $26.9M

Property Image
SOLD
$26,900,000
Rosalind Brewer
SR

California

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Industrial247,572 SF
Sold 06/20/2023
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Property Image
SOLD

Realty Income Corp Acquires Woodland Industrial Property From Walgreens For $26.9M

531 Quality Cir Woodland, CA 95776, USA

See Similar Deals
Industrial247,572 SF
Sold 06/20/2023
Rosalind Brewer
SR
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$108
Total Square Footage:247,572 SF
Transaction Type:Sale

A Woodland industrial property located at 531 Quality Circle has been purchased by Realty Income Corp. in a sale-leaseback deal. The property features a 247,572-square-foot industrial building. The seller, Walgreens, will continue to be the tenant under a 15-year lease agreement.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $26,900,000
  • Address: 531 Quality Circle
  • Market: Woodland

Realty Income Corp, represented by Sumit Roy, acquired the Woodland industrial property from Walgreens. The deal involved a 15-year lease agreement, with Walgreens continuing to occupy the property as the tenant.

Players

SR
Sumit Roy
7 deals$2.7B volume
BUYER
Rosalind Brewer
Walgreens
Rosalind Brewer
5 deals$74.2M volume
SELLER

Details

SOLD
IMAGE: Roz Brewer & Sumit Roy DATE: 06/20/2023 ADDRESS: 531 Quality Circle MARKET: Woodland ASSET TYPE: Industrial BUYER: Realty Income Corp - Sumit Roy SELLER: Walgreens - Roz Brewer SALE PRICE: $26,900,000 SF: 247,572 ~ PPSF: $109 NOTE: Realty Income Corp. has purchased a Woodland industrial property from Walgreens in a sale-leaseback deal. The property, located at 531 Quality Circle, includes a 247,572-square-foot industrial building, and Walgreens will remain as the tenant under a 15-year lease agreement.

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

$1,434,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$95,570.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,519.72
Annual Debt Service$1,530,236.68