Mac Lee Of Bridge Logistics Properties Acquires Industrial Asset From Frito-Lay For $105.25M
SOLD
$105,250,000
New York
See Similar DealsIndustrial322,810 SF
Sold 12/17/2024
SOLD
Mac Lee Of Bridge Logistics Properties Acquires Industrial Asset From Frito-Lay For $105.25M
222 Morgan Avenue
See Similar DealsIndustrial322,810 SF
Sold 12/17/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$326
Total Square Footage:322,810 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$373,931.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$498,938.70
Annual Debt Service$5,987,264.35
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