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181 Wheeler Court

Updated Dec 4, 2024

Vintage Imports Leases Industrial Space At 181 Wheeler Court, Langhorne
LEASEDIndustrial

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

Sean Durkin

Roddy

Broker

$9.8M

vol

2 deals

Broker

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

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