Jack Ford & Brian Underkofler Acquire Industrial Property In Mechanicsburg, PA For $78.5M
360 Independence Avenue
$78,500,000
$96/SF
Building Size
812,425 SF
Asset Type
Industrial
Closing
Jan 10, 2024
AI
The industrial property located at 360 Independence Avenue in Mechanicsburg, PA has been sold in a recent transaction. The property spans an area of 812,425 square feet and was sold for a total price of $78,500,000, resulting in a price per square foot of $97.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $78,500,000
- Property Address: 360 Independence Avenue, Mechanicsburg, PA
- Market: Mechanicsburg, PA
- Buyers: Jack Ford & Brian Underkofler - Lightstone
- Brokers: John Plower & Ryan Cottone - JLL
The purchase of the industrial property was made by Jack Ford and Brian Underkofler, representing Lightstone. The deal was facilitated by brokers John Plower and Ryan Cottone from JLL.
Players
Mechanicsburg 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93