Invesco Acquires Industrial Property In Suffolk County For $50M
SOLD
$50,000,000
New York
See Similar DealsIndustrial237,000 SF
Sold 09/10/2021
SOLD
Invesco Acquires Industrial Property In Suffolk County For $50M
4320 Veterans Memorial Hwy, Ronkonkoma, Suffolk County, NY, USA
See Similar DealsIndustrial237,000 SF
Sold 09/10/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$211
Total Square Footage:237,000 SF
Transaction Type:Sale
The industrial property located at 4320 Veterans Memorial Hwy in Suffolk County was recently sold in a transaction. The property spans 237,000 square feet and has been sold for a price of $50,000,000, resulting in a price per square foot of $210.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $50,000,000
- Address: 4320 Veterans Memorial Hwy
- Market: Suffolk County
The buyer of the property is InvescoUS, while the seller is Pacer Partners & Drake Real Estate Partners. The transaction was facilitated by brokers Marc Duval, Jordan Avanzato, and Nick Stefans, representing the parties involved.
Players
BUYER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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