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1600 Division Rd West Warwi...

Albany Road Real Estate Partners Acquires 550,000 SF Industrial Facility In West Warwick For $39M
SOLDIndustrial

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

Matthew Sherry

Colliers

Broker

$1.3B

vol

27 deals

Broker

Christopher Knisley

Albany Road Real Estate Partners

Buyer

$98.8M

vol

5 deals

Buyer
BL
Brookwood Financial Partners, LLCSeller

West Warwick Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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