Rexford Industrial Acquires Industrial Property In Panorama City For $25M
SOLD
$25,000,000
California
See Similar DealsIndustrial140,000 SF
Sold 04/19/2022
SOLD
Rexford Industrial Acquires Industrial Property In Panorama City For $25M
7815 Van Nuys Boulevard, Panorama City, California 91402, United States
See Similar DealsIndustrial140,000 SF
Sold 04/19/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$178
Total Square Footage:140,000 SF
Transaction Type:Sale
Rexford Industrial has acquired an industrial property located at 7815 Van Nuys Blvd. in Panorama City. The property spans 140,000 square feet and was sold for a total price of $25,000,000. This translates to a price per square foot of $178. The sale transaction was completed on April 19, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 7815 Van Nuys Blvd.
- Market: Panorama City
Chris Comfort of Apex Properties represented the buyer, Rexford Industrial, in this transaction. On the other hand, the seller, Marc Myers and Scott Myers, were not represented by any broker. The acquisition of this industrial property was facilitated by Howard Schwimmer, who served as Rexford Industrial's representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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