SecureSpace's Nathan McElmurry Acquires Industrial Property In Milpitas For $154M
6880 Santa Teresa Boulevard
$154,000,000
$236/SF
Building Size
650,000 SF
Asset Type
Industrial
Closing
Aug 11, 2022
AI
A 650,000 square foot industrial property located at 6880 Santa Teresa Boulevard has been sold for $154,000,000. The property was purchased by Nathan McElmurry, representing SecureSpace, from the seller Central Self Storage. The sale price equates to a price per square foot of $329.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $154,000,000
- Address: 6880 Santa Teresa Boulevard
- Market: Antioch, Milpitas, San Jose & Portland
The deal was facilitated by brokers Brian Somoza and Steve Mellon from JLL.
Players
San Jose 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93