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Aligned Data Centers Acquires Development Site In Sandusky, OH For $52M

Property Image
SOLD
$52,000,000

Ohio

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Development Site
Sold 10/02/2023
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Property Image
SOLD

Aligned Data Centers Acquires Development Site In Sandusky, OH For $52M

2509 Hayes Ave

See Similar Deals
Development Site
Sold 10/02/2023
the dealplayerscompscontact
Contact now

Summary

OHIO
Asset Type:Development Site
Transaction Type:Sale

Aligned Data Centers, represented by Andrew Shaap, has acquired a 129-acre development site located at 2509 Hayes Ave in Sandusky, Ohio. The property was sold for a total of $52 million by the partnership of Avgeris & Associates and Franklin Partners.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $52,000,000
  • Address: 2509 Hayes Ave, Sandusky, OH
  • Market: Sandusky, OH
  • Buyer: Andrew Shaap - Aligned Data Centers
  • Seller: James P. Avgeris - Avgeris & Associates & Franklin Partners

This significant transaction involved the acquisition of the 129-acre development site in Sandusky, Ohio. The buyer, Aligned Data Centers, was represented by Andrew Shaap, while the seller was James P. Avgeris, who acted on behalf of Avgeris & Associates and Franklin Partners. The deal was finalized for a sale price of $52 million, making it a notable transaction in the real estate market.

Players

AC
Aligned Data Centers
BUYER
AA
Avgeris & Associates
SELLER
Franklin Partners
Franklin Partners
SELLER

Details

SOLD
IMAGE: Andrew Shaap & James P. Avgeris DATE: 10/02/2023 ADDRESS: 2509 Hayes Ave MARKET: Sandusky, OH ASSET TYPE: Development Site ~ ACRES: 129 BUYER: Andrew Shaap - Aligned Data Centers SELLER: James P. Avgeris - Avgeris & Associates & Franklin Partners SALE PRICE: $52,000,000 NOTE: Aligned Data Centers has acquired a 129-acre development site in Sandusky, Ohio, for $52 million from a venture of Avgeris & Associates and Franklin Partners.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,773,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35