Updated Oct 29, 2024
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
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