Updated Oct 29, 2024
Greek Development Buys Industrial Property In Philadelphia For $31.5M
2121 Wheatsheaf Ln, Philadelphia, PA...
$31,500,000
$103/SF
Building Size
305,706 SF
Asset Type
Industrial
Closing
Nov 20, 2023
About this deal
AI
The industrial facility located at 2121 Wheatsheaf Ln in Philadelphia, PA has been sold for $31.5 million. The property spans 305,706 square feet and features clear heights of 19 to 21 feet, 30 loading doors, and over 350 parking spaces.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $31,500,000.00
- Address: 2121 Wheatsheaf Ln, Philadelphia, PA
- Market: Philadelphia
- Seller's Rep: Kyle Lockard(JLL), Larry Maister(JLL)
- Buyer: Greek Development
- SF: 305706
The seller, represented by John Plower, Ryan Cottone, Larry Maister, and Kyle Lockard of JLL, successfully closed the deal with Greek Development for the industrial property. The property was leased to Dependable Distribution Services, a cocoa bean distributor, at the time of sale.
On the Map
$31,500,000
$103/SF
Industrial
View full map
Players
Philadelphia Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Visit Larry Maister to view all their deals.
Browse Pennsylvania industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93