Sealy & Co Acquires 265,726 SF Industrial Property In Altoona, IA From VanTrust Real Estate For $24.9M
2600 20th Ave NW
$24,900,000
$93/SF
Building Size
265,726 SF
Asset Type
Industrial
Closing
Aug 16, 2023
AI
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
Olympia 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93