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Redmond 8660 LLC Acquires Industrial Property In Monroe, WA For $45M

Property Image
SOLD
$45,000,000

Washington

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Industrial214,364 SF
Sold 09/06/2022
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Property Image
SOLD

Redmond 8660 LLC Acquires Industrial Property In Monroe, WA For $45M

14655 Fryelands Boulevard, Monroe, Washington 98272, United States

See Similar Deals
Industrial214,364 SF
Sold 09/06/2022
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Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$209
Total Square Footage:214,364 SF
Transaction Type:Sale

The industrial property located at 14655 Fryelands Blvd SE in Monroe, WA has been sold in a closed transaction. The property spans 12.6 acres and encompasses a total of 214,364 square feet. The sale price for this transaction was $45,000,000, resulting in a price per square foot of $210. The property was acquired by Redmond 8660 LLC from the seller, Sterling Realty Organization. The deal was facilitated by brokers Zach Vall-Spinosa and Andy Miller from Kidder Mathews.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $45,000,000
  • Address: 14655 Fryelands Blvd SE, Monroe, WA
  • Market: Monroe, WA
  • Size: 12.6 acres
  • Buyer: Redmond 8660 LLC
  • Seller: Sterling Realty Organization
  • Brokers: Zach Vall-Spinosa & Andy Miller - Kidder Mathews

This transaction marks the successful acquisition of the industrial property by Redmond 8660 LLC. The deal was facilitated by brokers Zach Vall-Spinosa and Andy Miller, representing their respective agency, Kidder Mathews. The property offers a significant square footage of 214,364 and is situated on 12.6 acres in Monroe, WA. The sale price of $45,000,000, which translates to a price per square foot of $210, showcases the value of this industrial asset.

Players

Zach Vall-Spinosa
4 deals$188.4M volume
BROKER

Andy Miller
Kidder Mathews
4 deals$183.5M volume
BROKER

SELLER

Details

SOLD
IMAGE: Zach Vall-Spinosa & Andy Miller DATE: 09/06/2022 ADDRESS: 14655 Fryelands Blvd SE MARKET: Monroe, WA ASSET TYPE: Industrial ~ ACRES: 12.6 BUYER: Redmond 8660 LLC SELLER: Sterling Realty Organization BROKERS: Zach Vall-Spinosa & Andy Miller - Kidder Mathews SALE PRICE: $45,000,000 SF: 214,364 ~ PPSF: $210

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

$2,400,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50