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Newmark Brokers $24.6M Sale Of 9-Property Retail Portfolio To Public REIT

Property Image
SOLD
$24,600,000
Karick Brown
Samer Khalil
Matt Berres

Illinois

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Retail250,000 SF
Sold 08/14/2023
the dealplayerscompscontact
Property Image
SOLD

Newmark Brokers $24.6M Sale Of 9-Property Retail Portfolio To Public REIT

Aurora

See Similar Deals
Retail250,000 SF
Sold 08/14/2023
Karick Brown
Samer Khalil
Matt Berres
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$98
Total Square Footage:250,000 SF
Transaction Type:Sale

Newmark has completed the $24.6 million sale of a nine-property net leased retail portfolio across various states. The portfolio, with nearly 250,000 square feet, was fully leased to leading retailers and acquired by an undisclosed public REIT buyer.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $24,600,000
  • Square Footage: 250,000
  • Price per Square Foot: $98
  • Market: Aurora & Bridgestone Illinois; Muncie & Greenwood, Indiana; Atmore, Alabama; North Syracuse, New York; Escanaba Whitmore, Michigan; Brooksville, Florida
  • Brokers: Matt Berres, Samer Khalil, and Karick Brown - Newmark

The deal was brokered by Matt Berres, Samer Khalil, and Karick Brown of Newmark. They played a crucial role in facilitating the transaction between the seller and the undisclosed public REIT buyer, ensuring a successful outcome for all parties involved.

Players

Matt Berres
Newmark
Matt Berres
9 deals$206.7M volume
BROKER
Samer Khalil
Newmark
Samer Khalil
10 deals$210.6M volume
BROKER
Karick Brown
Newmark
Karick Brown
6 deals$119.3M volume
BROKER

Details

SOLD
IMAGE: Samer Khalil, Matt Berres & Karick Brown DATE: 08/14/2023 ADDRESS: Portfolio MARKET: Aurora & Bridgestone Illinois; Muncie & Greenwood, Indiana; Atmore, Alabama; North Syracuse, New York; Escanaba Whitmore, Michigan; Brooksville, Florida ASSET TYPE: Retail BROKERS: Matt Berres (@MattBerres), Samer Khalil (@SamerKhalil) & Karick Brown (@KarickBrown) - Newmark (@Newmark) SALE PRICE: $24,600,000 SF: 250,000 ~ PPSF: $98 NOTE: Newmark has completed the $24.6 million sale of a nine-property net leased retail portfolio across various states. The portfolio, with nearly 250,000 square feet, was fully leased to leading retailers and acquired by an undisclosed public REIT buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,312,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$87,398.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,616.55
Annual Debt Service$1,399,398.60