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Walter E. Nelson Co Acquires Bonney Lake Industrial Warehouse For $41M

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SOLD
$41,000,000

Washington

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Industrial193,000 SF
Sold 01/31/2024
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Property Image
SOLD

Walter E. Nelson Co Acquires Bonney Lake Industrial Warehouse For $41M

9713 233rd Avenue East

See Similar Deals
Industrial193,000 SF
Sold 01/31/2024
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$212
Total Square Footage:193,000 SF
Transaction Type:Sale

A 193,000-square-foot industrial warehouse located at 9713 233rd Avenue East in Bonney Lake, WA, has been sold for $41 million. The property, owned by fitness equipment maker STL International Inc., was purchased by Walter E. Nelson Co. The sale price equates to approximately $212 per square foot.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $41,000,000
  • Square Footage: 193,000
  • Address: 9713 233rd Avenue East, Bonney Lake, WA
  • Market: Bonney Lake, WA

Matt McLennan from Kidder Mathews represented the buyer, Walter E. Nelson Co, in this transaction. The seller, Chris Leier and Rylie Leier, were represented by STL International Inc. STL International Inc., the fitness equipment maker, had been the owner of this industrial warehouse situated in Bonney Lake.

Players

Matt McLennan
Kidder Mathews
Matt McLennan
7 deals$77.7M volume(253) 722-1458
BROKER

Details

SOLD
IMAGE: Chris Leier, Rylie Leier & Matt McLennan DATE: 01/31/2024 ADDRESS: 9713 233rd Avenue East MARKET: Bonney Lake, WA ASSET TYPE: Industrial BUYER: Walter E. Nelson Co SELLER: Chris Leier & Rylie Leier - STL International Inc BROKER: Matt McLennan - Kidder Mathews SALE PRICE: $41,000,000 SF: 193,000 ~ PPSF: $212 NOTE: A 193,000-square-foot industrial warehouse in Bonney Lake, owned by fitness equipment maker STL International Inc., sold for $41 million, approximately $212 per square foot.

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

$2,186,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01