Stonelake Capital Partners Acquires Industrial Building From Nine Realty Group LLC For $6.3M
1401 Southwest 8th Street
$6,300,000
$217/SF
Building Size
28,919 SF
Asset Type
Industrial
Closing
Dec 2, 2025
AI
The transaction involved the acquisition of an industrial building located at 1401 Southwest 8th Street in Pompano Beach. The sale price for the property was $6,300,000, encompassing a total area of 28,919 square feet, translating to a price per square foot of $218.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,300,000
- Address: 1401 Southwest 8th Street
- Market: Pompano Beach
- Square Footage: 28,919
- Price per Square Foot: $218
- Buyer: Kenneth E. Aboussie, Jr. & John A. Kiltz - Stonelake Capital Partners
- Seller: Nine Realty Group LLC
- Broker Representatives: Greg Milopoulos & Christian Baena - Lee & Associates
Greg Milopoulos and Christian Baena from Lee & Associates represented the transaction, facilitating the off-market deal for Stonelake Capital Partners. Their role will involve leading the property's repositioning, which includes leasing up current vacancies and utilizing the asset's features, such as the 18-foot clear heights and seven dock doors.
Players
Pompano Beach 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93