Updated May 14, 2025
Michael Arougheti Of Ares Management Acquires Industrial Property In Philadelphia For $10.2M
13200 Townsend Road
$10,200,000
$155/SF
Building Size
65,582 SF
Asset Type
Industrial
Closing
May 13, 2025
About this deal
AI
Ares Management acquired a 65,582-square-foot warehouse at 13200 Townsend Road in Northeast Philadelphia for $10.2 million. The asset, covering 7.3 acres, is located in a market known for its industrial properties.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $10,200,000
- Square Footage: 65,582
- Address: 13200 Townsend Road
- Market: Philadelphia, PA
- Price Per Square Foot: $156
- Buyer: Michael Arougheti - Ares Management
- Seller: Greg Lauze & Dean Atkins - Northbridge Partners
The current subtenant, Amazon, will continue to occupy the property, which has seen its third sale in six years, reflecting ongoing activity in this sector.
On the Map
$10,200,000
$155/SF
Industrial
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Players
Philadelphia 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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93