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PCBP Properties Inc Acquires 80,000 Square Foot Industrial Building From LBA Logistics For $12.6M

Property Image
SOLD
$12,600,000
Paige Morgan
Brett Hartzell

Washington

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Industrial80,000 SF
Sold 12/18/2024
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Property Image
SOLD

PCBP Properties Inc Acquires 80,000 Square Foot Industrial Building From LBA Logistics For $12.6M

403 North Levee Road

See Similar Deals
Industrial80,000 SF
Sold 12/18/2024
Paige Morgan
Brett Hartzell
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$157
Total Square Footage:80,000 SF
Transaction Type:Sale

An industrial property located at 403 North Levee Road in Puyallup, WA was sold for $12,600,000. The asset offers 80,000 square feet of space on a 5-acre lot, translating to a price per square foot of $158. This sale occurred on December 18, 2024, and is positioned slightly below the Q3 average for Pierce County.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $12,600,000
  • Acres: 5
  • Square Footage: 80,000
  • Price Per Square Foot: $158
  • Buyer: PCBP Properties Inc
  • Seller: LBA Logistics
  • Brokers: Brett Hartzell & Paige Morgan - CBRE
  • Date of Sale: December 18, 2024

PCBP Properties Inc acquired the industrial building in Puyallup from LBA Logistics with representation from Brett Hartzell and Paige Morgan of CBRE. The transaction highlights the involvement of these brokers in facilitating the sale between the buyer and seller.

Players

Brett Hartzell
CBRE
Brett Hartzell
12 deals$789M volume
BROKER
Paige Morgan
CBRE
Paige Morgan
9 deals$535M volume
BROKER

Details

SOLD
IMAGE: 12/18/2024 ADDRESS: 403 North Levee Road MARKET: Puyallup, WA ASSET TYPE: Industrial ~ ACRES: 5 BUYER: PCBP Properties Inc SELLER: LBA Logistics BROKERS: Brett Hartzell & Paige Morgan - CBRE SALE PRICE: $12,600,000 SF: 80,000 ~ PPSF: $158 NOTE: PCBP Properties Inc. acquired an 80,000-square-foot industrial building in Puyallup for $12.6M from LBA Logistics, marking a $156 per square foot transaction, slightly below Pierce County’s Q3 average.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$672,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
Annual Debt Service$716,765.14