Updated Feb 26, 2025
Charles Margiotta Of InLight Real Estate Partners Acquires Southbrook Corporate Center For $22.7M
10950 South Belcher Road
$22,700,000
$128/SF
Building Size
176,135 SF
Asset Type
Industrial
Closing
Feb 26, 2025
About this deal
AI
The property asset involved is an industrial property located at 10950 South Belcher Road in Largo, encompassing approximately 10.37 acres. The sale price for the transaction was $22,700,000, and the property measures 176,135 square feet, resulting in a price per square foot of $129.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22,700,000
- Address: 10950 South Belcher Road
- Market: Largo
- Acres: 10.37
- Square Footage: 176,135
- Price per Square Foot: $129
- Buyer: Charles Margiotta - InLight Real Estate Partners
- Seller: Chad Harrod - Harrod Properties
- Lender: Ameris Bank
InLight Real Estate Partners, represented by Charles Margiotta, has acquired its first industrial asset in Pinellas County from Harrod Properties, represented by Chad Harrod. This property is currently leased to Ion Labs Inc., a subsidiary of DCC Health & Beauty.
On the Map
$22,700,000
$128/SF
Industrial
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Players
Seminole 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93