RSE Capital Companions has secured $97.8 million in acquisition financing for a six-asset industrial portfolio all through Arizona, Maryland, Georgia and Virginia.
NorthMarq organized the everlasting, five-year, fixed-rate mortgage on behalf of the borrower. The mortgage has 18 months of curiosity after which a 30-year amortization schedule. Allianz Actual Property was the lender.
The six properties complete almost 1.1 million sq. toes and are all situated close to metropolitan areas with quick access to transportation networks, which makes them appropriate for last-mile distribution.
Six properties near 4 metros
One of many two Arizona property inside the portfolio is 910 West Carver Highway in Tempe, Ariz., a 110,000-square-foot single-tenant industrial property inbuilt 1998. The asset is at the moment LEED Gold-certified, with 339 parking areas in a 3.4 areas per 1,000 sq. toes parking ratio, in line with CommercialEdge knowledge. Perception Automation Worldwide is the only real tenant on the property, in line with the identical knowledge supplier.
The second Arizona industrial property is 215 North 143rd Ave., in Goodyear, Ariz., a 213,229-square-foot asset inbuilt 2020. {Hardware} Sources is a tenant on the property, in line with CommercialEdge knowledge.
One of many two Maryland property is 7441 Candlewood Highway in Hanover, Md., a 253,330-square-foot single-tenant industrial property inbuilt 1985. Essendant is a tenant on the property, in line with the identical knowledge supplier.
The second Maryland property is 7980 Tar Bay Drive in Jessup, Md., a 203,615-square-foot single-tenant asset inbuilt 1990.
The Georgia industrial property is 3435 Jonesboro Highway SE in Atlanta, Ga., a 201,989-square-foot single-tenant asset inbuilt 2020.
The Virginia asset is 22480 Randolph Drive in Sterling, Va., a 76,500-square-foot flex-industrial property inbuilt 2005. Tenants on the property embody United Merchandise Distributors, Related World Methods and Ahead Air, in line with CommercialEdge knowledge.
The common worth per sq. foot of an industrial constructing within the second quarter of 2022 was $138, up 12.4 % over the yr’s first quarter and 31.3 % year-over-year. This was the seventh straight quarter with growing common sale costs for the commercial sector. In Atlanta, the typical year-to-date sale worth per sq. foot was $110. Based on Yardi Matrix, there have been $39.6 billion in industrial gross sales in the course of the first half of 2022.
