Libitzky Property Companies Acquires Industrial Property In Whitestown, IN For $28.4M
SOLD
$28,375,000
+ 2
Indiana
See Similar DealsIndustrial319,336 SF
Sold 12/14/2023
SOLD
Libitzky Property Companies Acquires Industrial Property In Whitestown, IN For $28.4M
6040 Commerce Dr
See Similar DealsIndustrial319,336 SF
Sold 12/14/2023
+ 2
Summary
INDIANA
Asset Type:Industrial
Price Per Square Foot:$88
Total Square Footage:319,336 SF
Transaction Type:Sale
An industrial property located at 6040 Commerce Drive in Whitestown, IN has been sold for a total price of $28,375,000. The property spans across 319,336 square feet, resulting in a price per square foot of $89. The transaction took place on 12/14/2023.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,375,000
- Square Feet: 319,336
- Price Per Square Foot: $89
- Address: 6040 Commerce Drive, Whitestown, IN
- Market: Whitestown, IN
The buyer of the industrial property is Libitzky Property Companies, while the seller is Geoffrey Lord. The deal was facilitated by brokers Kevin Foley, Anthony DeLorenzo, and Andrew Morris, representing CBRE. Notably, the property was sold for the full amount in an all-cash transaction. The buyer is a private individual with a high net worth from California.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,513,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$100,810.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$134,511.98
Annual Debt Service$1,614,143.71
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