Updated Oct 29, 2024
Time Manufacturing Company Sells Industrial Property In Waco, TX & Bethlehem, PA To W. P. Carey For $29M
7601 Imperial Drive, Waco, TX, USA
$29,000,000
$65/SF
Building Size
440,177 SF
Asset Type
Industrial
Closing
Jan 7, 2021
About this deal
AI
The industrial property located at 7601 Imperial Drive in Waco, TX and Bethlehem, PA has been sold. The transaction took place on January 8, 2021. The property spans 440,177 square feet and was sold for a total price of $29,000,000, resulting in a price per square foot of $66.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $29,000,000
The seller of the property was Time Manufacturing Company, while the buyer was W. P. Carey. The sale was facilitated by Maureen Kelly Cooper, Robert Elms, Michael Thomas, Anthony Pasqual, and Steven LaKind, who represented both parties in the deal. These brokers are affiliated with Cushman & Wakefield.
On the Map
$29,000,000
$65/SF
Industrial
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Players
Waco 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93