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Albanese Cormier Acquires Retail Property In Reno, NV For $15.8M

Property Image
SOLD
$15,800,000

Nevada

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Retail155,000 SF
Sold 01/04/2021
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Property Image
SOLD

Albanese Cormier Acquires Retail Property In Reno, NV For $15.8M

620 N McCarran Blvd, Reno, NV, USA

See Similar Deals
Retail155,000 SF
Sold 01/04/2021
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Summary

NEVADA
Asset Type:Retail
Price Per Square Foot:$101
Total Square Footage:155,000 SF
Transaction Type:Sale

The retail property located at 620 N McCarran Blvd in Reno, NV was recently sold for a total price of $15,800,000. The transaction took place on January 4, 2021, and the asset spans a total of 155,000 square feet. The price per square foot for this property equates to $101. The buyer of the property was Albanese Cormier, while the seller was Walton Street Capital. The deal was facilitated by JLL, with Gleb Lvovich, Dan Tyner, and Tony Ensbury representing the involved parties.

Summary of transaction details

This transaction involved notable individuals and companies such as Albanese Cormier, the buyer of the property, and Walton Street Capital, the seller. The deal was facilitated by JLL, with Gleb Lvovich, Dan Tyner, and Tony Ensbury from JLL representing the parties involved. The involvement of these key individuals and companies played a crucial role in the successful completion of the transaction.

Players

Daniel Tyner
63 deals$2B volume
BROKER

Gleb Lvovich
JLL
62 deals$2.2B volume
BROKER

Tony Ensbury
JLL
4 deals$150.4M volume
BROKER

Walton Street Capital
SELLER

Details

SOLD
IMAGE: Tony Ensbury, Dan Tyner & Gleb Lvovich DATE: 01/04/2021 ADDRESS: 620 N McCarran Blvd MARKET: Reno, NV ASSET TYPE: Retail BUYER: Albanese Cormier SELLER: Walton Street Capital BROKERS: Gleb Lvovich, Dan Tyner & Tony Ensbury - JLL PRICE: $15,800,000 SF: 155,000 ~ PPSF: $101

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

$842,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,134.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,900.06
Annual Debt Service$898,800.73