Updated Oct 28, 2024
Amancio Ortega Acquires Philadelphia Industrial Property For $148.1M
2760 Red Lion Road, Philadelphia, Pennsylvania 19154, United States
$148,100,000
$145/SF
Building Size
1,015,000 SF
Asset Type
Industrial
Closing
Sep 6, 2022
About this deal
AI
An industrial property located at 2760 Red Lion Road in Philadelphia has been sold for $148,100,000. The property spans 1,015,000 square feet, resulting in a price per square foot of $146. The transaction took place on September 7, 2022, and the sale was facilitated by VeREIT.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $148,100,000
- Address: 2760 Red Lion Road, Philadelphia
- Market: Philadelphia
- Square Footage: 1,015,000
The buyer in this transaction was Amancio Ortega. VeREIT served as the seller in the deal. Glenn J. Rufrano captured an image of the property, adding further visual documentation to the transaction.
On the Map
$148,100,000
$145/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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93