Berkley Partners Acquires Industrial Property In Jessup, MD For $30M
SOLD
$30,000,000
+ 2
Maryland
See Similar DealsIndustrial191,700 SF
Sold 01/25/2022
SOLD
Berkley Partners Acquires Industrial Property In Jessup, MD For $30M
8215 Wellmoor Court, Jessup, Maryland 20794, United States
See Similar DealsIndustrial191,700 SF
Sold 01/25/2022
+ 2
Summary
MARYLAND
Asset Type:Industrial
Price Per Square Foot:$156
Total Square Footage:191,700 SF
Transaction Type:Sale
The industrial property located at 8215 & 8220 Wellmoor Court in Jessup, MD was recently sold in a transaction. The property spans an impressive 16.4 acres and is classified as an industrial asset. The sale took place on January 21, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $30,000,000
- Address: 8215 & 8220 Wellmoor Court, Jessup, MD
- Market: Jessup, MD
- Square Footage: 191,700 SF
The buyer in this transaction was Berkley Partners, while the seller was Spector Family LLC. Representing both parties were Christopher Abramson, Brian Kruger, Ben McCarty, Nicholas Signor, and Erik Evans from Newmark.
The sale price for the property was $30,000,000, resulting in a price per square foot of $156.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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