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Karl Hohensteins - Kraft Mechanical LLC Buys Industrial Asset In Woodbury For $17M
SOLD
$17,000,000
Minnesota
See Similar DealsIndustrial321,570 SF
Sold 02/29/2024
SOLD
Karl Hohensteins - Kraft Mechanical LLC Buys Industrial Asset In Woodbury For $17M
2330 Ventura Drive & 2415 Ventura Drive
See Similar DealsIndustrial321,570 SF
Sold 02/29/2024
Summary
MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:321,570 SF
Transaction Type:Sale
The industrial asset located at 2330 Ventura Drive & 2415 Ventura Drive in Woodbury, MN, was sold in a transaction on 02/29/2024. The property was purchased by Karl Hohensteins of Kraft Mechanical LLC from the seller, Hohenstein’s Inc, for a total of $17,000,000. The property spans 160,785 square feet, resulting in a price per square foot of $106.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,000,000
- Buyer: Karl Hohensteins - Kraft Mechanical LLC
- Seller: Hohenstein’s Inc
- Address: 2330 Ventura Drive & 2415 Ventura Drive, Woodbury, MN
- Market: Woodbury, MN
Hohenstein’s Inc is set to relocate to its new $17 million, 160,785-square-foot beer distribution center in Cottage Grove while maintaining its current Woodbury location.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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