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Hamid Moghadam's Prologis Inc Acquires 10-Acre Industrial Site In Washington, DC For $10.25M

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SOLD
$10,250,000

Dc

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Industrial
Sold 12/26/2023
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Hamid Moghadam's Prologis Inc Acquires 10-Acre Industrial Site In Washington, DC For $10.25M

3400 Benning Road Northeast

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Industrial
Sold 12/26/2023
the dealplayerscompscontact
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Summary

Asset Type:Industrial
Transaction Type:Sale

Prologis Inc. has acquired a 10-acre section of Pepco's decommissioned Benning Road power plant in Northeast D.C. for $10.25 million. The industrial property is located at 3400 Benning Road Northeast and is part of the Washington, DC market. This acquisition provides Prologis Inc. with an opportunity for development on the westernmost portion of the site.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $10,250,000
  • Buyer: Hamid Moghadam - Prologis Inc
  • Address: 3400 Benning Road Northeast
  • Market: Washington, DC
  • Acres: 10

Hamid Moghadam, representing Prologis Inc., played a key role in the acquisition of the 10-acre industrial property. This transaction signifies Prologis Inc.'s strategic move to expand its presence in the Washington, DC market and capitalize on the development potential of the site.

Players

Hamid Moghadam
Prologis
Hamid Moghadam
51 deals$2.6B volume
BUYER
Prologis
Prologis
BUYER

Details

SOLD
IMAGE: Hamid Moghadam DATE: 12/26/2023 ADDRESS: 3400 Benning Road Northeast MARKET: Washington, DC ASSET TYPE: Industrial ~ ACRES: 10 BUYER: Hamid Moghadam - Prologis Inc SALE PRICE: $10,250,000 NOTE: Prologis Inc. has acquired a 10-acre section of Pepco's decommissioned Benning Road power plant in Northeast D.C. for $10.25 million, with plans for development on the westernmost portion of the site.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$36,416.08
Cash-on-Cash Return-1.27%
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