LaSalle Investment Management Acquires Industrial Property In Renton, WA For $120M
SOLD
$120,000,000
Washington
See Similar DealsIndustrial473 SF
Sold 12/19/2022
SOLD
LaSalle Investment Management Acquires Industrial Property In Renton, WA For $120M
300 Southwest 27th Street, Renton, Washington 98057, United States
See Similar DealsIndustrial473 SF
Sold 12/19/2022
Summary
WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$253,699
Total Square Footage:473 SF
Transaction Type:Sale
The industrial property located at 300 SW 27th St in Renton, WA has been sold in a closed transaction. The property spans 473,000 square feet and was sold for a price of $120,000,000, resulting in a price per square foot of $254. The transaction took place on December 19, 2022.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $120,000,000
- Square Footage: 473,000
- Price per Square Foot: $254
- Address: 300 SW 27th St, Renton, WA
- Market: Renton, WA
LaSalle Investment Management acquired the property from Clarion Partners. The transaction was facilitated by the brokers Brett Hartzell & Paige Morgan from CBRE.
Players
BROKERAGE
BUYER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$426,334.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$568,861.22
Annual Debt Service$6,826,334.65
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