Silver Creek Development Acquires Industrial Property In Wilmington For $130M
SOLD
$130,000,000
Illinois
See Similar DealsIndustrial2,000,000 SF
Sold 02/12/2021
SOLD
Silver Creek Development Acquires Industrial Property In Wilmington For $130M
29900 South Graaskamp Boulevard, Wilmington, IL, USA
See Similar DealsIndustrial2,000,000 SF
Sold 02/12/2021
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$65
Total Square Footage:2,000,000 SF
Transaction Type:Sale
The industrial property located at 29900 South Graaskamp Boulevard in Wilmington has been sold. The property spans 91 acres and was sold for a price of $130,000,000. It offers a total square footage of 2,000,000, resulting in a price per square foot of $65.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $130,000,000
- Market: Wilmington
- Address: 29900 South Graaskamp Boulevard
- Acres: 91
Silver Creek Development has acquired the property from Transwestern Development Company. The transaction was facilitated by brokers Eliott Zeitoune and Matthew Schoenfeldt from JLL.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$461,862.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$616,266.32
Annual Debt Service$7,395,195.87
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