Updated Oct 29, 2024
Premier Development Partners Acquires American Spring Wire Facility In Bedford, Ohio For $10.5M
26300 Miles Road Bedford, Ohio 44146, USA
$10,500,000
$46/SF
Building Size
225,000 SF
Asset Type
Industrial
Closing
Jun 14, 2023
About this deal
AI
Premier Development Partners has purchased the American Spring Wire facility in Bedford, Ohio for $10.5 million. The industrial property spans 225,000 square feet and is located at 26300 Miles Road. The price per square foot for the transaction was $47. The seller of the property was American Spring Wire.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,500,000
- Square Footage: 225,000
- Address: 26300 Miles Road, Bedford, Ohio
- Market: Bedford, Ohio
Spencer Pisczak, representing Premier Development Partners, facilitated the purchase of the American Spring Wire facility in Bedford, Ohio. Despite previous reports of closure, American Spring Wire employees have confirmed that the company is still operating at the site and plans to stay for the long term.
Players
Bedford 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93