Updated Oct 29, 2024
Church Of Jesus Christ Of Latter-day Saints Acquires Industrial Property In Kent, WA For $260M
20111 66th Avenue South, Kent, Washington 98032, United States
$260,000,000
$315,917/SF
Building Size
823 SF
Asset Type
Industrial
Closing
Apr 17, 2023
About this deal
AI
The Church of Jesus Christ of Latter-day Saints has acquired an industrial property located at 20111 66th Ave S in Kent, WA. The property, spanning 823,000 square feet, was sold by Panattoni Development Company for a total price of $260,000,000, resulting in a price per square foot of $316.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $260,000,000
- Address: 20111 66th Ave S, Kent, WA
- Market: Kent, WA
- Buyer: Church of Jesus Christ of Latter-day Saints
- Seller: Panattoni Development Company
- Broker: Newmark
- Square Footage: 823,000
- Price Per Square Foot: $316
The deal was facilitated by the brokerage firm Newmark. They represented the Church of Jesus Christ of Latter-day Saints in the transaction.
Kent 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93