Kohan Retail Investment Group Acquires Retail Property In Pittsburgh For $46M
SOLD
$46,000,000
Pennsylvania
See Similar DealsRetail874 SF
Sold 11/30/2022
SOLD
Kohan Retail Investment Group Acquires Retail Property In Pittsburgh For $46M
100 Robinson Center Drive, Pittsburgh, Pennsylvania 15205, United States
See Similar DealsRetail874 SF
Sold 11/30/2022
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$52,631
Total Square Footage:874 SF
Transaction Type:Sale
A retail property located at 100 Robinson Centre Drive in Pittsburgh, Pennsylvania has been sold for a price of $46,000,000. The property spans an area of 874,553 square feet and is situated on approximately 155 acres. The sale was completed on November 30, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $46,000,000
- Address: 100 Robinson Centre Drive, Pittsburgh, Pennsylvania
- Market: Pittsburgh, Pennsylvania
- Size: 874,553 square feet
- Acres: 155
The buyer, Kohan Retail Investment Group, acquired the property from QIC US Management Inc. The sale was facilitated by David Monahan, Claudia Steeb, Cameron Pittman, and Emerson Pierce from JLL Capital Markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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