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United Hampshire US REIT Acquires Retail Property In Colonial Heights, Virginia For $26.25M

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SOLD
$26,250,000

Virginia

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Retail168,326 SF
Sold 12/09/2021
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Property Image
SOLD

United Hampshire US REIT Acquires Retail Property In Colonial Heights, Virginia For $26.25M

3107 Boulevard, Colonial Heights, VA, USA

See Similar Deals
Retail168,326 SF
Sold 12/09/2021
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Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$155
Total Square Footage:168,326 SF
Transaction Type:Sale

United Hampshire US REIT has completed the acquisition of a retail property located at 3107 Boulevard in Colonial Heights, Virginia. The transaction was facilitated by JLL Capital Markets brokers Jordan Lex, Daniel Naughton, and Bill Moylan.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $26,250,000
  • Square Footage: 168,326
  • Price per Square Foot: $156
  • Date: 12/09/2021
  • Address: 3107 Boulevard, Colonial Heights, Virginia
  • Market: Colonial Heights, Virginia
  • Buyer: United Hampshire US REIT
  • Seller: Berman Kappler Property
  • Brokers: Jordan Lex, Daniel Naughton, and Bill Moylan - JLL Capital Markets

The acquisition of the retail property by United Hampshire US REIT marks a significant transaction in Colonial Heights, Virginia. The property spans a total of 168,326 square feet with a sale price of $26,250,000, equating to a price per square foot of $156. The deal was finalized on 12/09/2021. Jordan Lex, Daniel Naughton, and Bill Moylan from JLL Capital Markets represented the buyer and seller in the transaction.

Players

Jordan Lex
11 deals$647.2M volume
BROKER

Daniel Naughton
JLL
5 deals$267.9M volume
BROKER

Bill Moylan
JLL
3 deals$312.3M volume
BROKER

BUYER

Details

SOLD
IMAGE: Bill Moylan, Jordan Lex & Daniel Naughton DATE: 12/09/2021 ADDRESS: 3107 Boulevard MARKET: Colonial Heights, Virginia ASSET TYPE: Retail BUYER: United Hampshire US REIT SELLER: Berman Kappler Property BROKERS: Jordan Lex, Daniel Naughton & Bill Moylan - JLL Capital Markets SALE PRICE: $26,250,000 SF: 168,326 ~ PPSF: $156

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,399,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$93,260.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$124,438.39
Annual Debt Service$1,493,260.71