BentallGreenOak Acquires 18.2 Acre Industrial Property In Riverside For $120M
SOLD
$120,000,000
California
See Similar DealsIndustrial361 SF
Sold 01/26/2023
SOLD
BentallGreenOak Acquires 18.2 Acre Industrial Property In Riverside For $120M
6075 Lance Dr, Riverside, California 92507, United States
See Similar DealsIndustrial361 SF
Sold 01/26/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$332,410
Total Square Footage:361 SF
Transaction Type:Sale
On January 26, 2023, an industrial property located at 6075 Lance Drive in Riverside was sold in a closed transaction. The property spans across 18.2 acres, offering ample space for various industrial activities.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $120,000,000
- Square Footage: 361,346
- Price Per Square Foot: $332
- Address: 6075 Lance Drive
- Market: Riverside
The buyer of this property was BentallGreenOak represented by Sonny Kalsi, along with Institutional Logistics Partners. On the other hand, the seller was Loctek Inc. The transaction's selling price was $120,000,000, with a price per square foot of $332.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$426,334.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$568,861.22
Annual Debt Service$6,826,334.65
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