Updated Jan 20, 2026
Georges De Boutiny Acquires Industrial Outdoor Storage In Odessa For $5.65M From Jeffrey Sherman
11805 State Road 54
$5,650,000
$207/SF
Building Size
27,300 SF
Asset Type
Industrial
Closing
Jan 11, 2026
About this deal
AI
The transaction involves an industrial outdoor storage asset located at 11805 State Road 54 in Odessa. The sale price was $5,650,000 for a property with a total square footage of 27,300, which equates to a price per square foot of $206.
Summary of transaction details:
- Property Type: Industrial - Industrial Outdoor Storage (IOS)
- Transaction Amount: $5,650,000
- Address: 11805 State Road 54
- Market: Odessa
- Square Footage: 27,300
- Price per Square Foot: $206
- Buyer: Georges De Boutiny
- Seller: Jeffrey Sherman
- Seller's Representative: Jason McCormick - Lober Real Estate
This transaction features Georges De Boutiny as the buyer and Jeffrey Sherman as the seller, with Jason McCormick representing the seller in the deal through Lober Real Estate. Interested parties in industrial real estate or IOS properties in Florida can reach out to Jason McCormick at the provided email.
On the Map
$5,650,000
$207/SF
Industrial
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Players
Odessa 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
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93