Updated Dec 23, 2025
LBA Realty Acquires Industrial Property In Sweetwater For $198M
11200 Northwest 21st Street, Sweetwater, Florida 33172, United States
$198,000,000
$282,453/SF
Building Size
701 SF
Asset Type
Industrial
Closing
Dec 29, 2022
About this deal
AI
The industrial property located at 11200 Northwest 21st Street, 11250 Northwest 25 Street, and 11350 Northwest 25 Street in Sweetwater has been sold. The property spans across 37.4 acres and features a total of 701,000 square feet. The sale took place on December 29, 2022, and was facilitated by Phil Belling who represented LBA Realty as the buyer. The property was sold by Principal Real Estate Partners. The transaction was financed by Northwestern Mutual Life Insurance Company. The sale price for the property was $198,000,000, resulting in a price per square foot of $282.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $198,000,000
- Market: Sweetwater
- Address: 11200 Northwest 21st Street, 11250 Northwest 25 Street & 11350 Northwest 25 Street
- Acres: 37.4
- Square Feet: 701,000
Phil Belling, representing LBA Realty, acted as the buyer's representative in this deal. The seller was Principal Real Estate Partners. Northwestern Mutual Life Insurance Company provided the financing for the transaction.
On the Map
$198,000,000
$282,453/SF
Industrial
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Players
Miami 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93