Hines Acquires Industrial Property In San Diego For $77.3M
SOLD
$77,300,000
California
See Similar DealsIndustrial229,680 SF
Sold 06/10/2022
SOLD
Hines Acquires Industrial Property In San Diego For $77.3M
7725 Otay Mesa Road, San Diego, California 92154, United States
See Similar DealsIndustrial229,680 SF
Sold 06/10/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$336
Total Square Footage:229,680 SF
Transaction Type:Sale
The industrial property located at 7725 Otay Mesa Road and 1965 Continental St. in San Diego has been sold for a total price of $77,300,000. The property spans a total of 229,680 square feet and has been acquired by Hines.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $77,300,000
- Address: 7725 Otay Mesa Road & 1965 Continental St., San Diego
- Market: San Diego
- Square Footage: 229,680
- Price Per Square Foot: $336
The seller in this deal was Murphy Development Co., represented by Cushman & Wakefield. Hines was the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,122,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$274,630.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$366,441.44
Annual Debt Service$4,397,297.24
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