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EastGroup Properties Acquires Industrial Properties In San Diego For $135M

Property Image
SOLD
$135,000,000
Taylor Neiman
Ryan Spradling
Makenna Peter
+ 4

National

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Sold 12/17/2021
the dealplayerscompscontact
Property Image
SOLD

EastGroup Properties Acquires Industrial Properties In San Diego For $135M

Sold 12/17/2021
Taylor Neiman
Ryan Spradling
Makenna Peter
+ 4
the dealplayerscompscontact
Contact now

Summary

Transaction Type:Sale

Players

Ryan Sitov
JLL
Ryan Sitov
12 deals$995.7M volume
BROKER
Mark Detmer
JLL
Mark Detmer
17 deals$1.1B volume
BROKER
Andy Irwin
JLL
Andy Irwin
3 deals$350.5M volume
BROKER
Ryan Spradling
JLL
Ryan Spradling
3 deals$301M volume
BROKER
Taylor Neiman
JLL
Taylor Neiman
1 deal$135M volume
BROKER
Makenna Peter
JLL
Makenna Peter
8 deals$660.2M volume
BROKER
Greg Lewis
JLL
Greg Lewis
3 deals$223M volume
BROKER
EastGroup Properties
EastGroup Properties
BUYER

Details

SOLD
IMAGE: Mark Detmer, Ryan Spradling, Ryan Sitov, Greg Lewis, Andy Irwin, Taylor Neiman & Makenna Peter DATE: 12/17/2021 ADDRESS: 8690 Kerns St., 2660 Sarnen St., 8863 & 9043 Siempre Viva Rd. MARKET: San Diego ASSET TYPE: Industrial ~ ACRES: 29.0 BUYER: EastGroup Properties SELLER: Siempre Viva Industrial II LLC BROKERS: Mark Detmer, Ryan Sitov, Ryan Spradling, Taylor Neiman, Makenna Peter, Andy Irwin & Greg Lewis - JLL SALE PRICE: $135,000,000 SF: 547,000 ~ PPSF: $246

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$479,626.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$639,968.87
Annual Debt Service$7,679,626.49