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Altemus Company Acquires Industrial Property In Vista For $23M

Property Image
SOLD
$23,000,000
Justin Altemus
Chris Smith
Andrey Mindirgasov
+ 1

California

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Industrial76,954 SF
Sold 12/16/2022
the dealplayerscompscontact
Property Image
SOLD

Altemus Company Acquires Industrial Property In Vista For $23M

970 Park Center Drive

See Similar Deals
Industrial76,954 SF
Sold 12/16/2022
Justin Altemus
Chris Smith
Andrey Mindirgasov
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$298
Total Square Footage:76,954 SF
Transaction Type:Sale

A industrial property located at 970 Park Center Drive in Vista has been sold in a closed transaction. The property spans 76,954 square feet and was sold for a price of $23,000,000, resulting in a price per square foot of $299.

Summary of transaction details:

  • Property Type: Industrial
  • Sale Price: $23,000,000
  • Square Footage: 76,954
  • Price per Square Foot: $299
  • Address: 970 Park Center Drive, Vista

The buyer of the property is the Altemus Company, represented by David Altemus and Justin Altemus. The seller of the property is Richard Barrett. The buyer's representatives in the transaction are Andrey Mindirgasov and Christopher Smith.

For questions regarding the transaction or to discuss any 1031 requirements, interested parties can contact Chris Smith at (949) 629-0658 or Andrey Mindirgasov at (310) 882-9541.

Players

Andrey Mindirgasov
Colliers
Andrey Mindirgasov
10 deals$168.2M volume
BROKER
Chris Smith
Colliers
Chris Smith
6 deals$79.7M volume
BROKER
Justin Altemus
Justin Altemus
3 deals$78.5M volume
BUYER
AC
Altemus Company
BUYER
RB
Richard A Barrett
2 deals$26M volume
SELLER

Details

SOLD
IMAGE: Andrey Mindirgasov & Christopher Smith DATE: 12/16/2022 ADDRESS: 970 Park Center Drive MARKET: Vista ASSET TYPE: Industrial BUYER: Altemus Company - David Altemus & Justin Altemus SELLER: Richard Barrett BUYER'S REP: Andrey Mindirgasov (@Andrey_mind) & Christopher Smith (@Chrissmith1031) SALE PRICE: $23,000,000 SF: 76,954 ~ PPSF: $299 NOTE FROM BROKER: For questions on the transaction or to discuss your 1031 requirement, please call Chris Smith at (949) 629-0658 or Andrey Mindirgasov at (310) 882-9541

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$81,714.15
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