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8565 FL-33 Lakeland, FL 338...

Square Mile Capital Management LLC Secures $106M Loan For Industrial Properties In Lakeland & Plant City With Brokers Ed Coco & Matthew Casey - JLL
FINANCEDIndustrial

Square Mile Capital Management LLC Secures $106M Loan For Industrial Properties In Lakeland & Plant City With Brokers Ed Coco & Matthew Casey - JLL

8565 FL-33 Lakeland, FL 33809, USA

$106,000,000

$70/SF

Building Size

1,505,000 SF

Asset Type

Industrial

Closing

Aug 1, 2022

AI

An industrial property located at 8565 State Road 33 and 12727 Henderson Way in the market of Lakeland and Plant City has been involved in a recent transaction. The property has a total square footage of 1,505,000 and is owned by Square Mile Capital Management LLC, represented by Eric Cohen. The transaction was facilitated by Ed Coco and Matthew Casey from JLL. The loan amount for the deal amounted to $106,000,000.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $106,000,000
  • Address: 8565 State Road 33 & 12727 Henderson Way
  • Market: Lakeland & Plant City
  • Square Footage: 1,505,000

This transaction involved the landlord, Square Mile Capital Management LLC, as well as their representative, Eric Cohen. The deal was facilitated by brokers Ed Coco and Matthew Casey from JLL. It showcases the significant investment made in the industrial property market in the Lakeland and Plant City area.

Players

Ed Coco

JLL

Broker

$491.7M

vol

5 deals

Broker
Square Mile Capital
Square Mile CapitalLender

Eric Cohen

Landlord

$241M

vol

7 deals

Landlord
Square Mile Capital
Square Mile CapitalLandlord

Lakeland Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93