Wharton Realty Group Inc. Acquires Retail Property In Reading, Pennsylvania For $72M
SOLD
$72,000,000
Pennsylvania
See Similar DealsRetail361,095 SF
Sold 03/18/2022
SOLD
Wharton Realty Group Inc. Acquires Retail Property In Reading, Pennsylvania For $72M
4599 Perkiomen Avenue, Reading, Pennsylvania 19606, United States
See Similar DealsRetail361,095 SF
Sold 03/18/2022
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$199
Total Square Footage:361,095 SF
Transaction Type:Sale
The retail property located at 4599 Perkiomen Ave in Reading, Pennsylvania was recently sold for a total sale price of $72,000,000. The property spans across 50 acres and has a total square footage of 361,095. The sale took place on March 18, 2022.
Summary of transaction details
- Property Type: Retail
- Sale Price: $72,000,000
- Square Footage: 361,095
- Address: 4599 Perkiomen Ave, Reading, Pennsylvania
- Market: Reading, Pennsylvania
- Acres: 50
Wharton Realty Group Inc. was the buyer in this transaction. The buyer was represented by Christopher Munley and Colin Behr, who work for JLL.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,840,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$255,800.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$341,316.73
Annual Debt Service$4,095,800.79
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