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13010 Bay Industrial Dr, Gi...

AGS Properties Acquires Industrial Property In Gibsonton For $55M
SOLDIndustrial

AGS Properties Acquires Industrial Property In Gibsonton For $55M

13010 Bay Industrial Dr, Gibsonton, Florida 33534, United States

$55,000,000

$491/SF

Building Size

112,000 SF

Asset Type

Industrial

Closing

Apr 4, 2022

AI

An industrial property located at 13010 Bay Industrial Drive in Gibsonton has been sold in a recent transaction. The property spans approximately 112,000 square feet and was sold for a price of $55,000,000, resulting in a price per square foot of $491. The buyer of the property is AGS Properties, while the seller is Duke Realty Corp.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $55,000,000
  • Address: 13010 Bay Industrial Drive
  • Market: Gibsonton
  • Buyer: AGS Properties
  • Seller: Duke Realty Corp

The deal was facilitated by the real estate brokerage firm Cushman & Wakefield, with the following brokers involved: Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Zachary Eicholtz, and Kayla Hankins.

Players

Dominic Montazemi

Cushman & Wakefield

Broker

$4.2B

vol

90 deals

Broker
Duke Realty
Duke RealtyBrokerage
Duke Realty
Duke RealtySeller

Gibsonton Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93