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Levi Cohen Of WareSpace Acquires Industrial Warehouse From Douglas Jemal For $19.5M In Alexandria
SOLD
$19,500,000
Virginia
See Similar DealsIndustrial94,000 SF
Sold 06/23/2025
SOLD
Levi Cohen Of WareSpace Acquires Industrial Warehouse From Douglas Jemal For $19.5M In Alexandria
950 South Pickett Street
See Similar DealsIndustrial94,000 SF
Sold 06/23/2025
Summary
VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$207
Total Square Footage:94,000 SF
Transaction Type:Sale
The property asset involved in the transaction is a 94,000 square foot industrial warehouse located at 950 South Pickett Street in Alexandria, VA. It was sold for $19,500,000, resulting in a price per square foot of $207.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,500,000
- Buyer: Levi Cohen - WareSpace
- Seller: Douglas Jemal - Douglas Development
- Brokers: John Dettleff & Bill Prutting - JLL
- Sale Date: 06/23/2025
- Market: Alexandria, VA
This transaction marks a loss for Douglas Development, who acquired the property in 2021 for $22,900,000, representing a loss of approximately $3,400,000 upon this sale to WareSpace.
Players
BROKERAGE
SELLER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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