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Alliance HSP Acquires Industrial Property In Philadelphia For $3.6M

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SOLD
$3,600,000

Pennsylvania

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Industrial40,900 SF
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SOLD

Alliance HSP Acquires Industrial Property In Philadelphia For $3.6M

3440 Bartram Ave, Philadelphia, PA, 1...

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Industrial40,900 SF
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Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$88
Total Square Footage:40,900 SF
Transaction Type:Sale

The industrial building located at 3440 Bartram Ave in Philadelphia, PA, spans 40,900 square feet. Built in 1980, the property sits in proximity to Interstate 95 and Philadelphia International Airport. The seller, the Philadelphia Housing Authority, represented by Michael Kane and Les Haggett of CBRE, along with Vincent Jolly of CVA Commercial Group, sold the asset to Alliance HSP for $3.6 million.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,600,000.00
  • Address: 3440 Bartram Ave, Philadelphia, PA
  • Market: Philadelphia
  • Seller's Rep: Les Haggett (CBRE), Michael Bushkanets (Douglas Elliman)
  • Buyer: Alliance HSP
  • SF: 40,900

Alliance HSP, the buyer in this transaction, acquired the industrial property from the Philadelphia Housing Authority. Les Haggett of CBRE and Michael Bushkanets of Douglas Elliman acted as the seller's representatives, facilitating the sale. The transaction underscores the building's history, having been owned and occupied by the Philadelphia Housing Authority since 1990.

Players

Michael Bushkanets
4 deals$12.5M volume(516) 313-2966
BROKER

Les Haggett
CBRE
1 deal$3.6M volume(215) 561-8361
BROKER

Details

SOLD
IMAGE: 3440 Bartram Ave, Philadelphia, PA, 1... MARKET: Philadelphia ASSET TYPE: Industrial SELLER'S REP: Les Haggett(CBRE), Michael Bushkanets(Douglas Elliman) BUYER: Alliance HSP PRICE: $3,600,000.00 SF: 40900

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
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