Updated Feb 11, 2025
Mason Ghaniabadi Of Spark Properties Acquires Package Deal From Fridh Corporation For $8M
308 West State Street, 401 West State Street, 4615 East State Street, 1111 South Alpine Road & 6595 East State Street
$8,000,000
$7/SF
Building Size
216,212 SF
Asset Type
Package Deal
Closing
Jan 17, 2025
About this deal
AI
The transaction involves a package deal comprising assets located at 308, 401, 4615 East State Street, 1111 South Alpine Road, and 6595 East State Street in Rockford. The total sale price for the properties amounts to $8,000,000, encompassing a combined square footage of 216,212, resulting in a price per square foot of $37.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $8,000,000
- Square Footage: 216,212
- Price Per Square Foot: $37
- Buyer: Mason Ghaniabadi - Spark Properties
- Seller: Fridh Corporation
- Broker: Kevin Kobe - CBRE
The key individuals involved in this transaction include Mason Ghaniabadi, representing Spark Properties as the buyer, and Fridh Corporation as the seller. Kevin Kobe from CBRE acted as the broker facilitating the sale.
Players
Rockford Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93