Galloway Group, Inc. Acquires Industrial Property In Fairfax, VA For $7.5M
3154 Spring Street, Fairfax, VA, USA
$7,500,000
$433/SF
Building Size
17,291 SF
Asset Type
Industrial
Closing
Nov 12, 2021
AI
Located at 3154-3158 Spring St in Fairfax, Virginia, this industrial property spans across 2.8 acres. The transaction took place on November 12, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Address: 3154-3158 Spring St, Fairfax, VA
- Market: Fairfax, Va
- Lender: FVC Bank
- Mortgage Brokers: Malcolm Shaw & Bill Wrench - Phillips Realty Capital
- Buyer: Galloway Group, Inc. - George Galloway
- Seller: Merrifield Circle Corporation
- Broker: Next-Realty Mid-Atlantic
The lending institution for this transaction was FVC Bank. Malcolm Shaw & Bill Wrench from Phillips Realty Capital served as the mortgage brokers. The buyer, George Galloway, represented the Galloway Group, Inc. while the seller was the Merrifield Circle Corporation. Next-Realty Mid-Atlantic acted as the broker in this deal.
Players
Fairfax Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93