Updated Dec 4, 2024
EastGroup Properties Acquires Spanish Ridge Industrial Center In Las Vegas For $54.8M
5425 South Riley Street, 5365 South Riley Street & 8875 West Hacienda Avenue
$54,800,000
$79/SF
Building Size
230,899 SF
Asset Type
Industrial
Closing
Feb 12, 2024
About this deal
AI
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $54,800,000
- Address: 5425, 5365 South Riley Street & 8875 West Hacienda Avenue, Las Vegas
- Market: Las Vegas
- Acres: 12.91
- Buyer: Marshall A. Loeb - EastGroup Properties
- Seller: Patrick Daniels - CapRock Partners; Michael Arougheti - Ares Asset Management
- Brokers: Andrew Briner & Bret Hardy - Newmark
- SF: 230,899
- PPSF: $237
The industrial sale at 5425 South Riley Street in Las Vegas, Nevada sold for $54.8M in 2024. The building is 692,697 square feet, implying about 79 per square foot on the published price. Andrew Briner, Bret Hardy, Newmark appear on the sale alongside Newmark. This page is the Las Vegas, Nevada file for the 5425 South Riley Street industrial sold: pricing, party profiles, and other closed industrial comps from the same Las Vegas sit in the Market section below. Filter that Las Vegas industrial set by closing date to see what else sold near 5425 South Riley Street around 2024. Published consideration for 5425 South Riley Street is $54.8M, dated 2024. Cite this EastGroup Properties Acquires Spanish Ridge Industrial Center In Las Vegas For $54.8M sale when underwriting similar industrial product around Las Vegas, Nevada.
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Las Vegas Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93