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950 Ice Cream Drive

Perla Co. USA Acquires North Aurora Industrial Building For $20M
SOLDIndustrial

Perla Co. USA Acquires North Aurora Industrial Building For $20M

950 Ice Cream Drive

$20,000,000

$114/SF

Building Size

174,000 SF

Asset Type

Industrial

Closing

Feb 15, 2024

AI

An industrial building spanning 174,000 square feet located at 950 Ice Cream Drive in North Aurora was acquired for over $20 million by The Perla Co. USA Inc., a company specializing in Italian food products. The purchase was made for the establishment of their U.S. headquarters to manufacture and distribute antipasti items.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $20,000,000
  • Acres: 12.3
  • Address: 950 Ice Cream Drive
  • Market: North Aurora

The transaction was facilitated by brokers Nick Krejci and Noel Liston from Core Industrial Realty, representing both the buyer, Perla Co. USA, and the seller, Larry Heard from Transwestern. The industrial property in North Aurora is set to be utilized by The Perla Co. USA Inc. for their operational needs following the planned build-out completion later this year.

Players

Noel Liston

Core Industrial Realty

Broker

$39.4M

vol

10 deals

Broker

North Aurora Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93