Updated Dec 4, 2024
Distribution By Air Acquires Industrial Property In Hanover, MD For $13M
7150 Standard Drive
$13,000,000
$195/SF
Building Size
66,590 SF
Asset Type
Industrial
Closing
Mar 5, 2024
About this deal
AI
The industrial property involved in the transaction is a 66,590-square-foot warehouse and distribution center located at 7150 Standard Drive in Hanover, MD. The property was sold for $13,000,000, equating to approximately $195 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $13,000,000
- Buyer: Distribution By Air
- Seller: Rialto Capital Management
- Buyer's Rep: Andrew Meeder - MacKenzie Commercial Real Estate Services
- Seller's Rep: Brian Siegel, Brian Watts, Jason Sullivan & Thomas "Tom" Gentner - Colliers International
Distribution By Air, an entity affiliated with Radiant Logistics, completed the acquisition of the warehouse and distribution center in Hanover, MD. The buying process was facilitated by Andrew Meeder from MacKenzie Commercial Real Estate Services, representing the buyer, while the seller was represented by Brian Siegel, Brian Watts, Jason Sullivan, and Thomas "Tom" Gentner from Colliers International.
Players
Hanover Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93