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Jack Ford And Brian Underkofler Of Lightstone Acquire Industrial Property In Harrisburg For $19M

Property Image
SOLD
$19,000,000
Gerry Blinebury
Brendan McGeary

Pennsylvania

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Industrial325,600 SF
Sold 10/15/2024
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Property Image
SOLD

Jack Ford And Brian Underkofler Of Lightstone Acquire Industrial Property In Harrisburg For $19M

1351 Eisenhower Boulevard & 6951 Allentown Boulevard

See Similar Deals
Industrial325,600 SF
Sold 10/15/2024
Gerry Blinebury
Brendan McGeary
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$58
Total Square Footage:325,600 SF
Transaction Type:Sale

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

Gerry Blinebury
Cushman & Wakefield
Gerry Blinebury
8 deals$178M volume(717) 231-7291
BROKER
Brendan McGeary
Cushman & Wakefield
Brendan McGeary
3 deals$73.4M volume
BROKER

Details

SOLD
IMAGE: Gerry Blinebury & Brendan McGeary DATE: 10/15/2024 ADDRESS: 1351 Eisenhower Boulevard & 6951 Allentown Boulevard MARKET: Harrisburg, PA ASSET TYPE: Industrial BUYER: Jack Ford & Brian Underkofler - Lightstone BROKERS: Gerry Blinebury (@GerryBlinebury) & Brendan McGeary - Cushman & Wakefield (@CushWake) SALE PRICE: $19,000,000 SF: 162,800 ~ PPSF: $116

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,013,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32