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Northwest Building LLC Acquires Property From Hammer Lane LLC For $25 Million In Stockton

Property Image
SOLD
$25,000,000
Tom de Jong
Dana Chobor

California

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Self Storage
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Property Image
SOLD

Northwest Building LLC Acquires Property From Hammer Lane LLC For $25 Million In Stockton

6220 Sampson Rd, Stockton, CA, 95212

See Similar Deals
Self Storage
Tom de Jong
Dana Chobor
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Self Storage
Transaction Type:Sale

The property involved in this transaction is Hammer Lane Self Storage, located at 6220 Sampson Rd, Stockton, CA, 95212. The asset was sold for $25,000,000, translating to $227 per rentable square foot and $39,960 per unit. The facility comprises a total of 109,800 square feet across 526 fixed storage units, alongside an additional 49,064 square feet of parking across 99 units.

Summary of transaction details:

  • Property Type: Self-storage
  • Transaction Amount: $25,000,000.00
  • Buyer: Northwest Building LLC
  • Seller: Hammer Lane LLC
  • Buyer's Representative: Dana Chobor - Colliers International
  • Size: 109,800 square feet
  • Rentable Units: 526 fixed storage units
  • Parking Units: 99 units

The transaction was facilitated by Tom de Jong and Dana Chobor of Colliers’ Self Storage Group, serving as representatives for both the buyer and the seller throughout the deal.

Players

Tom de Jong
Colliers
Tom de Jong
6 deals$62.7M volume
BROKER
Dana Chobor
Colliers
Dana Chobor
2 deals$28.4M volume
BROKER

Details

SOLD
IMAGE: 6220 Sampson Rd, Stockton, CA, 95212 MARKET: Stockton BUYER'S REP: Dana Chobor - Colliers International BUYER: Northwest Building LLC SELLER: Hammer Lane LLC PRICE: $25,000,000.00 SF: 0

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Deal Type
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