Rexford Industrial Realty Acquires Industrial Property In Inglewood For $32M
SOLD
$32,000,000
California
See Similar DealsIndustrial93,800 SF
Sold 01/24/2022
SOLD
Rexford Industrial Realty Acquires Industrial Property In Inglewood For $32M
8911 Aviation Boulevard, Inglewood, California 90301, United States
See Similar DealsIndustrial93,800 SF
Sold 01/24/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$341
Total Square Footage:93,800 SF
Transaction Type:Sale
The industrial property located at 8911 Aviation Boulevard in Inglewood has been sold for a total price of $32,000,000. The property has a total area of 93,800 square feet, resulting in a price per square foot of $341. The transaction took place on January 24, 2022, and involved the buyer, Rexford Industrial Realty, represented by Michael Frankel and Howard Schwimmer, and the seller, Hackman Capital Partners.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $32,000,000
- Address: 8911 Aviation Boulevard, Inglewood
- Market: Inglewood
- Buyer: Rexford Industrial Realty - Michael Frankel & Howard Schwimmer
- Seller: Hackman Capital Partners
Rexford Industrial Realty, represented by Michael Frankel and Howard Schwimmer, successfully acquired the property from Hackman Capital Partners in the transaction. The industrial property, with its prime location on Aviation Boulevard, offers a total area of 93,800 square feet. The deal, finalized on January 24, 2022, highlights the active commercial real estate market in Inglewood.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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