Blackstone Group Acquires Industrial Property In Pico Rivera For $62M
SOLD
$62,000,000
+ 1
California
See Similar DealsIndustrial4,610,000 SF
Sold 08/25/2020
SOLD
Blackstone Group Acquires Industrial Property In Pico Rivera For $62M
8700 Mercury Ln, Pico Rivera, CA 90660, USA
See Similar DealsIndustrial4,610,000 SF
Sold 08/25/2020
+ 1
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$13
Total Square Footage:4,610,000 SF
Transaction Type:Sale
The industrial property located at 8700 Mercury Lane in Pico Rivera has been sold in a closed transaction. The property spans 461,000 square feet and was sold for a total price of $62,000,000, resulting in a price per square foot of $134.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $62,000,000
- Square Footage: 461,000
- Price per Square Foot: $134
- Address: 8700 Mercury Lane, Pico Rivera
- Market: Pico Rivera
The buyer of the property was the Blackstone Group, represented by Jon Gray, Stephen Schwarzman, Kathleen McСarthy, and Ken Caplan. The seller of the property was Iron Mountain.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$220,272.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$293,911.63
Annual Debt Service$3,526,939.57
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