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11410 NW 20th St, Miami, FL...

Updated Oct 29, 2024

Innovatus Capital Partners Engages Dominic Montazemi Of Cushman & Wakefield For Sale In Miami
SOLDIndustrial

Innovatus Capital Partners Engages Dominic Montazemi Of Cushman & Wakefield For Sale In Miami

11410 NW 20th St, Miami, FL, 33172

Building Size

164,509 SF

Asset Type

Industrial

Closing

Apr 2, 2020

About this deal

AI

The property asset involved in this transaction is Dolphin Corporate Park, a two-building Class A office portfolio located at 11410 and 11430 NW 20th St, Miami, FL, 33172. The property offers a total of 164,509 square feet and is positioned in the Miami market. This office park, developed in 2008 on a 9.2-acre site, is designed to withstand a Category 5 hurricane and features back-up generators along with a parking ratio of 4.7 spaces per 1,000 square feet.

Summary of transation details:

  • Property Type: Class A Office Portfolio
  • Transaction Amount: Not specified
  • Address: 11410 NW 20th St, Miami, FL, 33172
  • Market: Miami
  • Seller's Representative: Gregory (Greg) Miller, Cushman & Wakefield
  • Buyer: Innovatus Capital Partners
  • Seller: Procacci Development Corp.
  • Leased Percentage: 94.2%
  • Major Tenants: Food and Drug Administration, U.S. Bank, Bureau of Alcohol, Tobacco, Firearms and Explosives, Brickell Bank, Humana, Banco Santander

The key individuals involved in the deal include Dominic Montazemi from Cushman & Wakefield, alongside a team that featured Mike Davis, Miguel Alcivar, Scott O’Donnell, Michael Ciadella, Greg Miller, Rick Brugge, and Rick Colon. This transaction reflects the effective negotiation efforts of the Cushman & Wakefield Capital Markets team representing the seller.

Players

Miguel Alcivar

Cushman & Wakefield

Broker

$965.1M

vol

39 deals

Broker
IP
Innovatus Capital PartnersBuyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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