BentallGreenOak Acquires 18.2 Acre Industrial Property In Riverside For $120M
6075 Lance Dr, Riverside, California 92507, United States
$120,000,000
$332,410/SF
Building Size
361 SF
Asset Type
Industrial
Closing
Jan 26, 2023
AI
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.
Players
Riverside 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93