Ares Management Acquires Industrial Property In San Diego For $57M
SOLD
$57,000,000
+ 3
California
See Similar DealsIndustrial199,997 SF
Sold 07/12/2023
SOLD
Ares Management Acquires Industrial Property In San Diego For $57M
9063 Airway Rd San Diego, CA 92154, USA
See Similar DealsIndustrial199,997 SF
Sold 07/12/2023
+ 3
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$285
Total Square Footage:199,997 SF
Transaction Type:Sale
A industrial property located at 9063 & 9093 Airway Road in San Diego has been sold for a total of $57,000,000. The property spans across 199,997 square feet, resulting in a price per square foot of $285. The transaction involved the buyer, Ares Management, and the seller, LPC West & Crow Holdings Capital.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $57,000,000
- Square Footage: 199,997
- Price per Square Foot: $285
- Address: 9063 & 9093 Airway Road, San Diego
- Market: San Diego
JLL brokers Ryan Spradling, Makenna Peter, Mark Detmer, Ryan Sitov, Greg Lewis, and Andy Irwin represented both the buyer, Ares Management, and the seller, LPC West & Crow Holdings Capital, in this transaction.
Players
BUYER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,040,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$202,508.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$270,209.08
Annual Debt Service$3,242,508.96
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