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
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