SOLDIndustrial
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
692,697 SF
Asset Type
Industrial
Closing
Feb 12, 2024
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
Las Vegas 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93