LBA Realty Acquires Industrial Property From Delta Galil Industries For $29 Million In Vernon
SOLD
$29,000,000
California
See Similar DealsRetail220,000 SF
Sold 05/31/2017
SOLD
LBA Realty Acquires Industrial Property From Delta Galil Industries For $29 Million In Vernon
4440 E 26th St, Vernon, CA, 90058
See Similar DealsRetail220,000 SF
Sold 05/31/2017
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$131
Total Square Footage:220,000 SF
Transaction Type:Sale
LBA Realty acquired a 220,000-square-foot industrial property located at 4440 E 26th St, Vernon, CA, 90058, from Delta Galil Industries for $29,000,000. The property consists of a creative office space encompassing 30,000 square feet and serves as the U.S. corporate headquarters for 7 For All Mankind, a luxury denim brand. The purchase price translates to approximately $132 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,000,000
- Square Footage: 220,000
- Address: 4440 E 26th St, Vernon, CA, 90058
- Market: Vernon
- Buyer's Representative: Paul Sablock, JLL
- Buyer: LBA Realty
- Seller: Delta Galil Industries
Paul Sablock of JLL represented both LBA Realty and Delta Galil Industries in this transaction, but declined to comment on the deal specifics. The information regarding the deal was supported by insights from a Vernon industrial broker familiar with the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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