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360 Independence Avenue

Jack Ford & Brian Underkofler Acquire Industrial Property In Mechanicsburg, PA For $78.5M
SOLDIndustrial

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

John Plower

JLL

Broker

$1.1B

vol

17 deals

Broker
Lightstone Group
Lightstone GroupLender

Mechanicsburg Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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