Jack Ford & Brian Underkofler Acquire Industrial Property In Mechanicsburg, PA For $78.5M
SOLD
$78,500,000
Pennsylvania
See Similar DealsIndustrial812,425 SF
Sold 01/10/2024
SOLD
Jack Ford & Brian Underkofler Acquire Industrial Property In Mechanicsburg, PA For $78.5M
360 Independence Avenue
See Similar DealsIndustrial812,425 SF
Sold 01/10/2024
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$96
Total Square Footage:812,425 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$278,893.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$372,130.05
Annual Debt Service$4,465,560.59
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