Prologis Acquires 17-Acre Development Site In Bethpage From Northrop Grumman For $51.2M
SOLD
$51,200,000
+ 1
New York
See Similar DealsDevelopment Site
Sold 04/28/2022
SOLD
Prologis Acquires 17-Acre Development Site In Bethpage From Northrop Grumman For $51.2M
600 Grumman Road West
See Similar DealsDevelopment Site
Sold 04/28/2022
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
Players
SELLER
Details
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,730,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$181,902.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$242,714.12
Annual Debt Service$2,912,569.45
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