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222 Morgan Avenue

Mac Lee Of Bridge Logistics Properties Acquires Industrial Asset From Frito-Lay For $105.25M
SOLDIndustrial

Mac Lee Of Bridge Logistics Properties Acquires Industrial Asset From Frito-Lay For $105.25M

222 Morgan Avenue

$105,250,000

$326/SF

Building Size

322,810 SF

Asset Type

Industrial

Closing

Dec 17, 2024

AI

This transaction involves an industrial property located at 222 Morgan Avenue in Brooklyn, which has a sale price of $105,250,000. The asset covers a total area of 322,810 square feet, translating to a price per square foot of $326.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $105,250,000
  • Buyer: Mac Lee - Bridge Logistics Properties
  • Seller: Frito-Lay
  • Broker: Vicki Keenan - Cresa

The transaction was facilitated by Vicki Keenan from Cresa, representing the seller in this deal. Mac Lee, representing Bridge Logistics Properties, acquired the industrial asset from Frito-Lay.

Players

Vicki Keenan

Cresa

Broker

$141.3M

vol

2 deals

Broker

Brooklyn Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93