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Sealy & Co Acquires 265,726 SF Industrial Property In Altoona, IA From VanTrust Real Estate For $24.9M

Property Image
SOLD
$24,900,000

Washington

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Industrial265,726 SF
Sold 08/16/2023
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Property Image
SOLD

Sealy & Co Acquires 265,726 SF Industrial Property In Altoona, IA From VanTrust Real Estate For $24.9M

2600 20th Ave NW

See Similar Deals
Industrial265,726 SF
Sold 08/16/2023
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$93
Total Square Footage:265,726 SF
Transaction Type:Sale

Sealy & Co, a Louisiana-based commercial real estate firm, has recently acquired a 15-acre property located at 2600 20th Ave NW in Altoona's Altus Commerce Center. The property consists of a newly constructed 265,726-square-foot warehouse and distribution building. The transaction was completed for a total sale price of $24.9 million.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $24,900,000
  • Square Footage: 265,726
  • Market: Altoona, IA
  • Buyer: Sealy & Co
  • Seller: Dave Harrison - VanTrust Real Estate

The seller in this deal was Dave Harrison, representing VanTrust Real Estate. Sealy & Co was able to acquire this property in Altoona's Altus Commerce Center, expanding their portfolio with this newly constructed warehouse and distribution facility. With the purchase of this 15-acre property, Sealy & Co aims to further strengthen their presence in the commercial real estate market.

Players

SC
Sealy & Co.
BUYER
Dave Harrison
Dave Harrison
6 deals$284.4M volume
SELLER

Details

SOLD
IMAGE: Dave Harrison DATE: 08/16/2023 ADDRESS: 2600 20th Ave NW MARKET: Altoona, IA ASSET TYPE: Industrial BUYER: Sealy & Co SELLER: Dave Harrison - VanTrust Real Estate SALE PRICE: $24,900,000 SF: 265,726 ~ PPSF: $94 NOTE: Sealy & Co., a Louisiana-based commercial real estate firm, has purchased a 15-acre property in Altoona's Altus Commerce Center, acquiring a newly constructed 265,726-square-foot warehouse and distribution building for $24.9 million from VanTrust Real Estate.

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

$1,327,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,464.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,038.70
Annual Debt Service$1,416,464.44