Updated Dec 4, 2024
Vintage Imports Leases Industrial Space At 181 Wheeler Court, Langhorne
181 Wheeler Court
Building Size
20,160 SF
Asset Type
Industrial
Closing
Apr 15, 2024
About this deal
AI
Located at 181 Wheeler Court in Langhorne, northeastern Philadelphia, this industrial property spans 20,160 square feet. The lease for this property was finalized on 04/15/2024, involving the landlord Michael J. Arougheti of Ares Management Corp and the tenant Vintage Imports.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Michael J. Arougheti - Ares Management Corp
- Tenant: Vintage Imports
- Landlord's Representative: Sean Durkin - Roddy Inc
- Tenant's Representative: Andrew McGhee - Colliers International
Roddy Inc., a local brokerage firm, successfully facilitated the industrial lease agreement. Sean Durkin of Roddy Inc. represented the tenant, Vintage Imports, in the transaction, while Andrew McGhee from Colliers International acted as the landlord's representative, representing an affiliate of Ares Management Corp from Los Angeles.
Players
Langhorne Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93