Panattoni Development Acquires Industrial Property In Valley View, Pennsylvania For $25.75M
978 Gap Street, Valley View, Pennsylvania, USA
$25,750,000
$10/SF
Building Size
2,387,295 SF
Asset Type
Industrial
Closing
Jul 28, 2021
AI
An industrial property located at 978 Gap Street in Valley View, Pennsylvania was recently sold for $25,750,000. The property spans over 2,387,295 square feet, resulting in a price per square foot of $11. The transaction took place on July 29, 2021, and involved the buyer, Panattoni Development Company, and the seller, Tremont FT, LLC.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,750,000
- Address: 978 Gap Street, Valley View, Pennsylvania
- Market: Valley View, Pennsylvania
- Buyer: Panattoni Development Company
- Seller: Tremont FT, LLC
- Brokers: Michael Hess, Bart Anderson & Patrick Lafferty - CBRE
The deal was facilitated by the broker representatives Michael Hess, Bart Anderson, and Patrick Lafferty from CBRE. They played a crucial role in connecting the buyer and seller to successfully close the transaction. This demonstrates their expertise in the industrial property market in Valley View, Pennsylvania.
Players
Hegins Township 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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93