Kroger Family Properties Acquires Industrial Property In Santee For $12.75M
SOLD
$12,750,000
California
See Similar DealsIndustrial54,282 SF
Sold 10/25/2021
SOLD
Kroger Family Properties Acquires Industrial Property In Santee For $12.75M
8733 N Magnolia Ave, Santee, CA, USA
See Similar DealsIndustrial54,282 SF
Sold 10/25/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$234
Total Square Footage:54,282 SF
Transaction Type:Sale
The industrial property located at 8733 N. Magnolia Ave. in Santee has been sold for a total of $12,750,000. Spanning over 54,282 square feet, this property has been acquired by Kroger Family Properties in a closed transaction. The price per square foot stands at $234, making it an attractive investment opportunity in the industrial market of Santee.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $12,750,000
- Address: 8733 N. Magnolia Ave.
- Market: Santee
The sale was facilitated by the broker Chris Nelson from Inland Pacific, representing both the buyer, Kroger Family Properties, and the seller, CEG Capital Partners, headed by Pat Geary. With their expertise and negotiation skills, Nelson ensured a successful transaction for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,441.50
Annual Debt Service$725,298.06
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