Jack Ford And Brian Underkofler Of Lightstone Acquire Industrial Property In Harrisburg For $19M
1351 Eisenhower Boulevard & 6951 Allentown Boulevard
$19,000,000
$58/SF
Building Size
325,600 SF
Asset Type
Industrial
Closing
Oct 15, 2024
AI
The asset involved in this transaction is an industrial property located at 1351 Eisenhower Boulevard & 6951 Allentown Boulevard in Harrisburg, PA. The sale was completed at a price of $19,000,000, encompassing a total square footage of 162,800, which equates to a price per square foot of $116.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,000,000
- Square Footage: 162,800
- Price Per Square Foot: $116
- Buyer: Jack Ford & Brian Underkofler - Lightstone
- Brokers: Gerry Blinebury & Brendan McGeary - Cushman & Wakefield
- Market: Harrisburg, PA
This transaction involved key individuals including buyers Jack Ford and Brian Underkofler from Lightstone, as well as brokers Gerry Blinebury and Brendan McGeary from Cushman & Wakefield, who represented the parties in the sale.
Players
Harrisburg 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93