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20320 80th Avenue South, Ke...

First Industrial Realty Trust Acquires 1.9 Acre Industrial Property In Kent, WA For $4.9M
SOLDIndustrial

First Industrial Realty Trust Acquires 1.9 Acre Industrial Property In Kent, WA For $4.9M

20320 80th Avenue South, Kent, Washington 98032, United States

$4,900,000

Building Size

Asset Type

Industrial

Closing

May 1, 2022

AI

First Industrial Realty Trust has acquired an industrial property located at 20320 80th Ave S in Kent, WA. The property spans approximately 1.9 acres and was sold for a total price of $4,900,000.

Summary of transaction details:

The buyer was represented by John Quinn, Rich Poolis, and Will Trapp from First Industrial Realty Trust. The sellers of the property were Pam Kale and Dick Kale. The transaction was facilitated by brokers Scott Alan and Pat Mullin from Cushman & Wakefield.

Players

Scott Alan

Cushman & Wakefield

Broker

$4.9M

vol

1 deal

Broker
First Industrial Realty Trust
First Industrial Realty TrustBrokerage

Rich Poolis

First Industrial Realty Trust

Buyer

$40.4M

vol

3 deals

Buyer

Kent Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.24%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93