Updated Dec 4, 2024
Jack Ford And Brian Underkofler Of Lightstone Acquire Industrial Property In Yeadon For $59M
6250 Baltimore Avenue
$59,000,000
$131/SF
Building Size
450,000 SF
Asset Type
Industrial
Closing
Sep 30, 2024
About this deal
AI
The property asset is located at 6250 Baltimore Avenue in Yeadon, PA, featuring an industrial classification. The transaction occurred on September 30, 2024, with a total sale price of $59,000,000. The property encompasses 450,000 square feet, translating to a price per square foot of $131.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $59,000,000
- Square Footage: 450,000
- Price per Square Foot: $131
- Buyer: Jack Ford & Brian Underkofler - Lightstone
- Seller: Zach Moore & Tony Grelli - Velocity Venture Partners
- Broker: Ryan Guittare - Newmark
The key individuals involved in this transaction include Jack Ford and Brian Underkofler representing Lightstone as the buyers, while the sellers, Zach Moore and Tony Grelli, represented Velocity Venture Partners. The transaction was facilitated by broker Ryan Guittare from Newmark.
On the Map
$59,000,000
$131/SF
Industrial
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Players
Lansdowne 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93