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Alterra Property Group Acquires 29-Acre ConGlobal Intermodal Depot In North Jacksonville For $15.63M
SOLD
$15,630,000
Florida
See Similar DealsIndustrial
Sold 11/13/2023
SOLD
Alterra Property Group Acquires 29-Acre ConGlobal Intermodal Depot In North Jacksonville For $15.63M
10470 Alta Drive
See Similar DealsIndustrial
Sold 11/13/2023
Summary
FLORIDA
Asset Type:Industrial
Transaction Type:Sale
Alterra Property Group, a Philadelphia-based real estate investment firm, has acquired the 29-acre ConGlobal intermodal depot in North Jacksonville for $15.63 million. The property, located at 10458 Alta Drive, serves as a container depot affiliated with JaxPort shipping. The seller, ConGlobal Industries LLC, will continue to operate on-site with a long-term lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,630,000
- Address: 10458 Alta Drive, Jacksonville
- Market: Jacksonville
- Buyer: Alterra Property Group - Leo Addimando
- Seller: ConGlobal Industries LLC - Jeff Loucks
Alterra Property Group, represented by Leo Addimando, purchased the 29-acre ConGlobal intermodal depot from ConGlobal Industries LLC. The acquisition allows Alterra Property Group to expand its real estate investment portfolio in Jacksonville.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$833,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,530.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,094.17
Annual Debt Service$889,130.09
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