Updated Dec 4, 2024
Dermody Properties Acquires Bridge Point Lacey Industrial Campus In Lacey, WA For $132.1M
3300-3316 Hogum Bay Road Northeast Lacey, Washington 98516, USA
$132,100,000
$184/SF
Building Size
717,544 SF
Asset Type
Industrial
Closing
Jul 7, 2023
About this deal
AI
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
Lacey 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93