Updated Dec 4, 2024
Prologis Acquires Industrial Warehouse In Bath, East Allen For $60.2M
7378 Airport Road
$60,200,000
$133/SF
Building Size
450,000 SF
Asset Type
Industrial
Closing
Jan 2, 2024
About this deal
AI
Prologis has purchased the Cubes at Airport Road Distribution Center, a 450,000-square-foot warehouse located at 7378 Airport Road in East Allen, Pennsylvania, for $60.2 million. The property is situated in the Bath market, which is known for its industrial real estate offerings. The transaction has been completed.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $60,200,000
- Square Footage: 450,000
- Address: 7378 Airport Road
- Market: Bath, East Allen
Hamid Moghadam, representing Prologis, acted as the buyer in this deal. On the other side of the transaction, Shawn Clark of CRG served as the seller's representative. The sale price of $60.2 million represents a price per square foot of $134. It is worth mentioning that Prologis has been actively expanding its portfolio in the Lehigh Valley area, which includes previous acquisitions at 6974 Schantz Road and 2834 Schoeneck Road.
Players
Bath 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93