Frank Beidler Acquires Industrial Property In Indianapolis For $25M
SOLD
$25,000,000
+ 1
Indiana
See Similar DealsIndustrial356,900 SF
Sold 12/18/2023
SOLD
Frank Beidler Acquires Industrial Property In Indianapolis For $25M
Industrial356,900 SF
Sold 12/18/2023
+ 1
Summary
Asset Type:Industrial
Price Per Square Foot:$70
Total Square Footage:356,900 SF
Transaction Type:Sale
A 356,900 square foot industrial property located at 5828 Commerce Drive in Indianapolis, IN has been sold. The property was purchased by Frank Beidler from Geoffrey Lord for a total price of $25,000,000. The sale represents a price per square foot of $70.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 5828 Commerce Drive, Indianapolis, IN
- Market: Indianapolis, IN
- Buyer: Frank Beidler
- Seller: Geoffrey Lord
The transaction was facilitated by CBRE brokers Kevin Foley, Anthony DeLorenzo, and Andrew Morris. The industrial property was sold at a 5.6% cap rate to a private, high-net-worth buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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