Westcore Acquires Industrial Property In Oakland For $40.5M
SOLD
$40,500,000
California
See Similar DealsIndustrial1,550,000 SF
Sold 05/21/2020
SOLD
Westcore Acquires Industrial Property In Oakland For $40.5M
8380 Pardee Dr, Oakland, CA 94621, USA
See Similar DealsIndustrial1,550,000 SF
Sold 05/21/2020
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$26
Total Square Footage:1,550,000 SF
Transaction Type:Sale
Westcore has acquired an industrial property located at 8380 Pardee Drive in Oakland for a total price of $40,500,000. The property spans 155,000 square feet, resulting in a price per square foot of $261.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $40,500,000
- Square Footage: 155,000
- Price per Square Foot: $261
- Address: 8380 Pardee Drive, Oakland
The buyer, Westcore, was represented by Tom Damaschino from Cushman & Wakefield. On the other hand, Richard Sutherland from The Sutherland Company acted as the seller's representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
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