Brookfield Properties Acquires Industrial Property In West Inland Empire For $25M
SOLD
$25,000,000
California
See Similar DealsIndustrial490,196 SF
Sold 04/30/2021
SOLD
Brookfield Properties Acquires Industrial Property In West Inland Empire For $25M
9813 Almond Avenue, Fontana, CA, USA
See Similar DealsIndustrial490,196 SF
Sold 04/30/2021
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$51
Total Square Footage:490,196 SF
Transaction Type:Sale
A industrial property located at 9813 & 9875 Almond Avenue in West Inland Empire has been sold in a transaction. The property spans 490,196 square feet and was sold for a price of $25,000,000, resulting in a price per square foot of $51. The transaction took place on April 30, 2021, and the property has an estimated capitalization rate of 2%.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Square Footage: 490,196
- Price per Square Foot: $51
- Capitalization Rate: 2%
The buyer of the property is Brookfield Properties Logistics, while the seller is Garrick Staples. The transaction was facilitated by brokers Shy Assar and Juan Gutierrez from Voit Real Estate. The deal was completed on behalf of the buyer and seller by Shy Assar and Juan Gutierrez from the same agency.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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