Colton Real Estate Ventures Acquires Industrial Property In Colton For $29.7M
SOLD
$29,704,000
New York
See Similar DealsIndustrial2,322,000 SF
Sold 09/02/2020
SOLD
Colton Real Estate Ventures Acquires Industrial Property In Colton For $29.7M
1901 W Center St, Colton, Ca 92324, Usa
See Similar DealsIndustrial2,322,000 SF
Sold 09/02/2020
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$12
Total Square Footage:2,322,000 SF
Transaction Type:Sale
A 232,200 square foot industrial property located at 1901 W. Center Street in Colton has been sold for a price of $29,704,000. The transaction took place on September 2, 2020. The property was acquired by Colton Real Estate Ventures from Hillwood Development. The asset was marketed in the Colton market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $29,704,000
- Square Footage: 232,200
- Price per Square Foot: $127
- Seller: Hillwood Development
- Buyer: Colton Real Estate Ventures
- Brokers: Marc Schillinger, Keith Rosso, and Eric Boucher - JLL; Corey Spound - Tamarack Real Estate Services
The deal was facilitated by brokers Marc Schillinger, Keith Rosso, and Eric Boucher from JLL, along with Corey Spound from Tamarack Real Estate Services. These individuals represented the respective parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,584,213.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,532.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$140,812.11
Annual Debt Service$1,689,745.37
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