Juda Hersh Acquires Industrial Property In Largo From Ted Tenaglia For $3M
12505 66th Street North, Largo, Florida 33773, United States
$3,000,000
$120/SF
Building Size
25,000 SF
Asset Type
Industrial
Closing
Jun 14, 2022
AI
The industrial property located at 12505 66th Street in Largo has been sold in a closed transaction. The property spans 25,000 square feet and was sold for a price of $3,000,000, resulting in a per square foot price of $120. The sale took place on 06/15/2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Address: 12505 66th Street, Largo
- Market: Largo
The buyer of the property is Juda Hersh, represented by Hersh Equity Group. The seller is Ted Tenaglia. Hersh Equity Group (HEG) is a Miami-based family office specializing in value-add industrial assets. Since December 2021, they have acquired over 270,000 square feet with more than 150 tenants in the Tampa MSA. HEG aims to acquire 1 million square feet by the end of 2023. For off-market opportunities, they can be contacted at [email protected].
Players
Pinellas Park 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93