Updated Dec 4, 2024
Kempner Properties, NY Lee & Associates Acquire Summerville Retail Property For $29M
10020 Dorchester Road
$29,000,000
$209/SF
Building Size
138,137 SF
Asset Type
Retail
Closing
Dec 22, 2023
About this deal
AI
Located at 10020 Dorchester Road in Summerville, SC, a retail property has been sold in a recent transaction. The property spans an area of 138,137 square feet and was purchased for a total of $29,000,000, resulting in a price per square foot of $210. The sale was facilitated by Brad Buchanan from JLL.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: $29,000,000
- Address: 10020 Dorchester Road, Summerville, SC
- Square Footage: 138,137
- Price Per Square Foot: $210
The buyers in this transaction were Doug Kempner, Rob Kempner, and Peter Kempner representing Kempner Properties, along with Peter Braus and James Wacht from NY Lee & Associates. They acquired the property from LBX Investments. The involvement of these individuals and companies showcases their active participation in the deal, working together to complete the transaction.
On the Map
$29,000,000
$209/SF
Retail
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Players
Summerville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93