Updated Jan 31, 2025
Reign Capital Acquires Utilities Building In Burien From AT&T Inc For $4.3 Million
15020 8th Avenue Southwest
$4,300,000
$60/SF
Building Size
71,448 SF
Asset Type
Special Purpose
Closing
Jan 8, 2025
About this deal
AI
The property asset involved in this transaction is a utilities building located at 15020 8th Avenue Southwest in Burien, WA. The building, established in 1952, spans 71,448 square feet and was sold for $4,300,000, translating to a price per square foot of approximately $60. This transaction occurred as part of a broader $850 million sale-leaseback arrangement.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $4,300,000
- Buyer: Reign Capital
- Seller: Michael Ford - AT&T Inc
- Square Footage: 71,448
- Price Per Square Foot: $60
- Market: Burien, WA
The deal highlights Reign Capital as the buyer acquiring the property from AT&T Inc, represented by Michael Ford. This transaction forms part of a larger portfolio sale that includes 13 million square feet distributed across 74 locations in the United States.
On the Map
$4,300,000
$60/SF
Special Purpose
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Players
Burien Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93