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978 Gap Street, Valley View...

Panattoni Development Acquires Industrial Property In Valley View, Pennsylvania For $25.75M
SOLDIndustrial

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

Michael Hess

CBRE

Broker

$25.8M

vol

1 deal

Broker
PC
Panattoni Development CompanyBuyer

Hegins Township 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

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93