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Global Net Lease Inc Acquires 21-Acre Americold Logistics Campus In Zumbrota For $22.85M
SOLD
$22,850,000
Minnesota
See Similar DealsIndustrial181,000 SF
Sold 07/01/2024
SOLD
Global Net Lease Inc Acquires 21-Acre Americold Logistics Campus In Zumbrota For $22.85M
1000 Arctic Avenue
See Similar DealsIndustrial181,000 SF
Sold 07/01/2024
Summary
MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$126
Total Square Footage:181,000 SF
Transaction Type:Sale
The 21-acre Americold Logistics cold storage campus located at 1000 Arctic Avenue in Zumbrota, MN, was sold for $22.85 million in cash. The property comprises 181,000 square feet with a price per square foot of $126.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $22,850,000
- Market: Zumbrota, MN
- Seller: Michael Weil - Global Net Lease Inc
Global Net Lease Inc. (GNL) orchestrated the sale of the Americold Logistics cold storage campus as part of a $170 million portfolio disposition strategy. The aim of the sale was to reduce debt levels and extend lease terms.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,218,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,181.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,320.66
Annual Debt Service$1,299,847.89
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