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Dermody Properties Acquires Bridge Point Lacey Industrial Campus In Lacey, WA For $132.1M

Property Image
SOLD
$132,100,000

Washington

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Industrial717,544 SF
Sold 07/07/2023
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Property Image
SOLD

Dermody Properties Acquires Bridge Point Lacey Industrial Campus In Lacey, WA For $132.1M

3300-3316 Hogum Bay Road Northeast Lacey, Washington 98516, USA

See Similar Deals
Industrial717,544 SF
Sold 07/07/2023
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:717,544 SF
Transaction Type:Sale

Dermody Properties, an industrial development and investment firm, has acquired Bridge Point Lacey, a 717,544-square-foot industrial campus in Lacey, Washington, for $132.1 million from Morgan Stanley. The property is located at 3300-3316 Hogum Bay Road Northeast in the bustling market of Lacey, WA. With a price per square foot of $184, the industrial campus offers ample space for various commercial purposes.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $132,100,000
  • Address: 3300-3316 Hogum Bay Road Northeast, Lacey, WA
  • Market: Lacey, WA
  • Square footage: 717,544
  • Price per square foot: $184

Dermody Properties, led by their representative, has successfully completed the acquisition of Bridge Point Lacey. This strategic move further establishes Dermody Properties' presence in the industrial real estate sector. On the other hand, Morgan Stanley acted as the seller, parting ways with the industrial campus.

Players

Dermody Properties
Dermody Properties
BUYER
Morgan Stanley
Morgan Stanley
SELLER
Morgan Stanley
Morgan Stanley
LENDER

Details

SOLD
IMAGE: 07/07/2023 ADDRESS: 3300-3316 Hogum Bay Road Northeast MARKET: Lacey, WA ASSET TYPE: Industrial BUYER: Dermody Properties SELLER: Morgan Stanley SALE PRICE: $132,100,000 SF: 717,544 ~ PPSF: $184 NOTE: Dermody Properties, an industrial development and investment firm, has acquired Bridge Point Lacey, a 717,544-square-foot industrial campus in Lacey, Washington, for $132.1 million from Morgan Stanley.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$469,323.41
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