Updated Oct 29, 2024
Howard Industrial Partners Acquires 29-Acre Land In Bloomington, California For $30.44M
18077 Santa Ana Avenue
$30,440,000
Building Size
—
Asset Type
Land
Closing
Sep 19, 2023
About this deal
AI
Howard Industrial Partners has purchased 29 acres of land in Bloomington, California for $30.44 million. The property is located at 18077 Santa Ana Avenue and is situated in the Bloomington market. This acquisition adds to Howard Industrial Partners' extensive land holdings in the region.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $30,440,000
- Address: 18077 Santa Ana Avenue
- Market: Bloomington
- Acres: 29
Howard Industrial Partners, led by Tim Howard, was the buyer in this transaction. The seller, Steve C. Na, successfully sold the 29-acre land to Howard Industrial Partners. The developer has a track record of entitling land for industrial use and has already developed over nine million square feet of industrial space in the Inland Empire area. This latest purchase further expands their portfolio in the region.
Riegelsville Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93