Jeff Pori Acquires Industrial Property In Golden Valley For $23.7M
$23,700,000
$474/SF
Building Size
50,000 SF
Asset Type
Industrial
Closing
Feb 14, 2024
AI
The industrial property located at 700 Ottawa Avenue North in Golden Valley, MN, was sold for $23,700,000. The asset spans 50,000 square feet, translating to a price per square foot of $474.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $23,700,000
- Buyer: Jeff Pori - Kingsbarn Realty Capital
- Seller: Jon Hauser - Drake Real Estate Services
- Brokers: Drew Antoniou & Dominic Sulo - Marcus & Millichap
- Address: 700 Ottawa Avenue North
- Market: Golden Valley, MN
Jeff Pori from Kingsbarn Realty Capital was the buyer in this transaction, while Jon Hauser from Drake Real Estate Services acted as the seller. Representing the deal were Drew Antoniou and Dominic Sulo from Marcus & Millichap, ensuring a successful closure of the industrial property sale.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93