CEG Capital Partners Acquires Industrial Property In Kearny Mesa, San Diego For $7.2M
SOLD
$7,200,000
California
See Similar DealsIndustrial29,442 SF
Sold 12/30/2021
SOLD
CEG Capital Partners Acquires Industrial Property In Kearny Mesa, San Diego For $7.2M
7520 Convoy Court, San Diego, California 92111, United States
See Similar DealsIndustrial29,442 SF
Sold 12/30/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$244
Total Square Footage:29,442 SF
Transaction Type:Sale
The industrial property located at 7520 Convoy Ct. in Kearny Mesa, San Diego has been sold. The property spans 29,442 square feet and was sold for a total price of $7,200,000, resulting in a price per square foot of $244. The transaction took place on December 30, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,200,000
- Address: 7520 Convoy Ct., Kearny Mesa, San Diego
- Market: Kearny Mesa, San Diego
The buyer in this transaction is CEG Capital Partners. The deal was facilitated by the brokers Marc Posthumus, Kurtis Blanchard, and Evan McDonald of Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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