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Henry Steinberg Of EQT Real Estate Acquires Two Industrial Warehouses From Todd Platt For $132.43M
SOLD
$132,430,000
Florida
See Similar DealsIndustrial2,741,594 SF
Sold 10/31/2025
SOLD
Henry Steinberg Of EQT Real Estate Acquires Two Industrial Warehouses From Todd Platt For $132.43M
12200 Presidents Court & 2300 Pickettville Road
See Similar DealsIndustrial2,741,594 SF
Sold 10/31/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$48
Total Square Footage:2,741,594 SF
Transaction Type:Sale
Two industrial properties were sold in West Jacksonville, encompassing a total of 1,370,797 square feet, with a combined sale price of $132,430,000. The assets include a facility leased to Unilever located at 12200 Presidents Court, which spans 772,210 square feet and sold for $71,730,000, and a distribution center for Keurig Dr Pepper at 2300 Pickettville Road, covering 598,587 square feet, sold for $60,700,000. The market for these transactions is Jacksonville.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $132,430,000
- Buyer: Henry Steinberg - EQT Real Estate
- Seller: Todd Platt - Hillwood Investment Properties
- Total Square Footage: 1,370,797 SF
- Price per Square Foot: $97
The transaction features Henry Steinberg representing EQT Real Estate and Todd Platt representing Hillwood Investment Properties in the sale of the two warehouses. Henry Steinberg's firm is based in Radnor, Pennsylvania, while Todd Platt's firm is involved in investment properties across various markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,062,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$470,495.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$627,785.76
Annual Debt Service$7,533,429.15
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