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Perla Co. USA Acquires North Aurora Industrial Building For $20M
SOLD
$20,000,000
Illinois
See Similar DealsIndustrial174,000 SF
Sold 02/15/2024
SOLD
Perla Co. USA Acquires North Aurora Industrial Building For $20M
950 Ice Cream Drive
See Similar DealsIndustrial174,000 SF
Sold 02/15/2024
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$114
Total Square Footage:174,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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