Albany Road Real Estate Partners Acquires 550,000 SF Industrial Facility In West Warwick For $39M
1600 Division Rd West Warwick, RI 02893, USA
$39,000,000
$70/SF
Building Size
550,000 SF
Asset Type
Industrial
Closing
Jul 28, 2023
AI
An industrial facility located at 1600 Division Rd in West Warwick, Rhode Island has been sold for $39 million. The property, situated on a 52-acre wooded campus, spans 550,000 square feet and was part of a transaction facilitated by Colliers International.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $39,000,000
- Square Footage: 550,000
- Address: 1600 Division Rd, West Warwick, RI
- Market: West Warwick, RI
The buyer of the property is Albany Road Real Estate Partners, represented by Christopher Knisley. The seller of the property is Brookwood Financial Partners LLC. The deal was facilitated by brokers Frank Petz, Matt Sherry, and Rob Schlesinger from Colliers International.
Players
West Warwick 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93