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Welcome Group Acquires Industrial Facility In Monroe, NC For $16M
SOLD
$16,000,000
North Carolina
See Similar DealsIndustrial183,509 SF
Sold 08/08/2023
SOLD
Welcome Group Acquires Industrial Facility In Monroe, NC For $16M
1710 Airport Road Monroe, North Carolina 28110, USA
See Similar DealsIndustrial183,509 SF
Sold 08/08/2023
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$87
Total Square Footage:183,509 SF
Transaction Type:Sale
An affiliate of the Welcome Group has acquired a 183,509-square-foot manufacturing facility located at 1710 Airport Road in Monroe, N.C. The transaction was valued at $16 million, with a price per square foot of $87.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $16,000,000
- Address: 1710 Airport Road, Monroe, NC
- Market: Monroe, NC
- Buyer: Affiliate of the Welcome Group
- Seller: Circor International Inc
- Broker: Cushman & Wakefield
- Square Footage: 183,509
- Price per Square Foot: $87
The manufacturing facility was sold by Circor International Inc to an affiliate of the Welcome Group for $16 million. The transaction involved the brokerage services of Cushman & Wakefield. This acquisition provides the Welcome Group with a significant industrial asset in Monroe, N.C.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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