Updated Dec 4, 2024
Larry Allbaugh Of Buzz Oates Acquires Industrial Properties In American Canyon For $44.5M
75 South Kelly Road & 89 South Kelly Road
$44,500,000
$83/SF
Building Size
266,729 SF
Asset Type
Industrial
Closing
Aug 22, 2024
About this deal
AI
The transaction involved the sale of two industrial warehouses located at 75 and 89 South Kelly Road in American Canyon. The properties were fully leased and the sale occurred for a total price of $44.5 million, translating to approximately $167 per square foot. The seller, LBA RVI-Company XLVIII LLC, had previously acquired these properties for $56.5 million in December 2021.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $44,500,000
- Square Footage: 266,729
- Price Per Square Foot: $167
- Buyer: Larry Allbaugh - Buzz Oates
- Seller: LBA RVI-Company XLVIII LLC
- Brokers: Chris Neeb, Matt Bracco, Ryan Sitov, Glen Dowling & Melinda Marino - JLL
This transaction was facilitated by a team of brokers from JLL, which included Chris Neeb, Matt Bracco, Ryan Sitov, Glen Dowling, and Melinda Marino. The buyer, Larry Allbaugh, represented Buzz Oates in this deal.
On the Map
$44,500,000
$83/SF
Industrial
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Players
American Canyon 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93