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Waterford Property Company Acquires Retail Property In West Covina For $18.6M

Property Image
SOLD
$18,600,000
Charley Simpson
El Warner

California

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Retail95,628 SF
Sold 09/29/2020
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Property Image
SOLD

Waterford Property Company Acquires Retail Property In West Covina For $18.6M

940 Lakes Dr, West Covina, CA 91790, USA

See Similar Deals
Retail95,628 SF
Sold 09/29/2020
Charley Simpson
El Warner
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$194
Total Square Footage:95,628 SF
Transaction Type:Sale

The retail property located at 940 Lakes Dr in West Covina has been sold in a transaction worth $18,600,000. The property spans a total area of 95,628 square feet, resulting in a price per square foot of $194. The buyer of the property was Waterford Property Company, represented by John Drachman. The seller of the property was CIM Group. The transaction was facilitated by Charles Simpson and El Warner of Colliers International.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $18,600,000
  • Square Footage: 95,628
  • Price per Square Foot: $194
  • Buyer: Waterford Property Company – John Drachman
  • Seller: @CIMGroup
  • Brokers: Charles Simpson & El Warner – Colliers International

Waterford Property Company, led by John Drachman, made the purchase of the retail property at 940 Lakes Dr in West Covina. Taking into account the buyer's representative, along with the seller CIM Group, Charles Simpson and El Warner of Colliers International played a crucial role in facilitating the transaction.

Players

El Warner
Colliers
El Warner
7 deals$196.1M volume
BROKER
Charley Simpson
Colliers
Charley Simpson
8 deals$173.2M volume
BROKER
WC
Waterford Property Company
BUYER
CIM Group
CIM Group
SELLER

Details

SOLD
IMAGE: IMAGE: John Drachman, El Warner, Shaul Kuba & Avi Shemesh DATE: 09/29/2020 ADDRESS: 940 Lakes Dr MARKET: West Covina ASSET TYPE: Retail BUYER: Waterford Property Company – John Drachman SELLER: @CIMGroup BROKERS: Charles Simpson & El Warner – Colliers International PRICE: $18,600,000 SF: 95,628 / PPSF: $194 […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$991,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,081.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,173.49
Annual Debt Service$1,058,081.87