Updated Nov 28, 2024
Prologis Acquires 17-Acre Development Site In Bethpage From Northrop Grumman For $51.2M
600 Grumman Road West
$51,200,000
Building Size
—
Asset Type
Development Site
Closing
Apr 28, 2022
About this deal
AI
Prologis, a global industrial real estate company, has acquired a development site in Bethpage, New York. The property, located at 600 Grumman Road West, spans 17 acres and was sold by Northrop Grumman.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $51,200,000
- Date: April 28, 2022
- Market: Bethpage
- Address: 600 Grumman Road West
The buyer of the property is Prologis, represented by Hamid Moghadam. Prologis is known for its expertise in industrial real estate and specializes in the development, leasing, and management of logistics facilities worldwide. On the other hand, Northrop Grumman, a leading global aerospace and defense technology company, acted as the seller in this transaction.
On the Map
$51,200,000
Development Site
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Bethpage Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93