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Lincoln Property Co. Acquires Industrial Portfolio In North Jacksonville For $91.3M

Property Image
SOLD
$91,320,000
Rick Brugge
Mike Davis
+ 3

Florida

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Industrial
Sold 06/07/2022
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Property Image
SOLD

Lincoln Property Co. Acquires Industrial Portfolio In North Jacksonville For $91.3M

13845 Alvarez Road, Jacksonville, Florida 32218, United States

See Similar Deals
Industrial
Sold 06/07/2022
Rick Brugge
Mike Davis
+ 3
Contact now

Summary

FLORIDA
Asset Type:Industrial
Transaction Type:Sale

An industrial property located in North Jacksonville has been sold for a total price of $91,320,000. The property includes several addresses, including 13845, 13903, and 13949 Alvarez Road; 13525 and 13475 International Parkway; 1750 Airport Road; 1594 Transport Road; and 13500 E. Tradeport Circle. The transaction took place on 06/07/2022.

Summary of transaction details

The buyer of the property is Lincoln Property Co., represented by Gary Kobus, while the seller is Link Logistics Real Estate LLC, represented by Sonya Huffman. The deal was facilitated by brokers Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Brooke Tully, and Zachary Eicholtz from Cushman & Wakefield.

Players

Dominic Montazemi
90 deals$4.2B volume
BROKER

Mike Davis
Cushman & Wakefield
65 deals$3.6B volume
BROKER

Rick Brugge
Cushman & Wakefield
65 deals$2.8B volume
BROKER

Rick Colon
Cushman & Wakefield
55 deals$2.7B volume
BROKER

Zachary Eicholtz
Cushman & Wakefield
17 deals$1.1B volume
BROKER

Brooke Tully
Cushman & Wakefield
1 deal$91.3M volume
BROKER

Link Logistics Real Estate
BROKERAGE


Details

SOLD
IMAGE: Rick Brugge, Gary Kobus, Mike Davis, Rick Colon, Zachary Eicholtz & Dominic Montazemi DATE: 06/07/2022 ADDRESS: 13845, 13903 & 13949 Alvarez Road; 13525 & 13475 International Parkway, 1750 Airport Road, 1594 Transport Road & 13500 E. Tradeport Circle MARKET: North Jacksonville ASSET TYPE: Industrial BUYER: Lincoln Property Co. (@LPCCommercial) - Gary Kobus SELLER: Link Logistics Real Estate LLC (@LinkLogisticsRE) - Sonya Huffman BROKERS: Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi (@DfMontazemi) , Brooke Tully & Zachary Eicholtz - Cushman & Wakefield (@CushWake) SALE PRICE: $91,320,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,870,399.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$324,440.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$432,903.39
Annual Debt Service$5,194,840.67