ExchangeRight Acquires Industrial Property In Effingham, IL For $58.2M
SOLD
$58,200,000
Illinois
See Similar DealsIndustrial1,283,360 SF
Sold 12/22/2021
SOLD
ExchangeRight Acquires Industrial Property In Effingham, IL For $58.2M
711 West Wabash Avenue, Effingham, Illinois 62401, United States
See Similar DealsIndustrial1,283,360 SF
Sold 12/22/2021
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$45
Total Square Footage:1,283,360 SF
Transaction Type:Sale
The industrial property located at 711 W. Wabash Ave. in Effingham, IL has been sold for a price of $58,200,000. The property spans across 1,283,360 square feet, resulting in a price per square foot of $45. The transaction took place on December 22, 2021.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $58,200,000
The buyer of the property was ExchangeRight, represented by JRW Realty. The seller was represented by John Redfield, Britt Raymond, and Kyle Fant of the National Net Lease Group (NNLG) at SRS Real Estate Partners.
These key individuals and companies played instrumental roles in the successful completion of the deal. Britt Raymond, John Redfield, and Kyle Fant represented the seller, while JRW Realty represented the buyer ExchangeRight.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,772.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$275,897.69
Annual Debt Service$3,310,772.31
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