SOLD
Basis Industrial Acquires Industrial Property In Clearwater For $6.75M
14605 49th Street
Industrial
44,562 SF
44,562 SF
Sold 126 days ago
Summary
Sale
FLORIDA
Industrial
44,562 sqft
An industrial property located at 14605 49th Street in Clearwater has been sold in a transaction valued at $6,750,000. The property spans across 44,562 square feet, resulting in a price per square foot of $151.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,750,000
- Address: 14605 49th Street, Clearwater
- Market: Clearwater
The buyer, Basis Industrial, was represented by Dan Weinstein and Anthony Scavo. Hersh Equity Group, represented by Juda Hersh and Corey Schwartz, acted as the seller. The transaction was facilitated by Cody Brais of JLL.
H.E.G., the seller, strategically acquired this small-bay asset 25 months ago for $3.65 million. With approximately $750,000 invested in capital improvements, they achieved a remarkable 51% internal rate of return (IRR) and over a 2X equity multiple for their investors.
For inquiries on future investment opportunities or discussions regarding investment sales, kindly reach out to [email protected].
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: Corey Schwartz, Dan Weinstein, Juda Hersh, Anthony Scavo & Cody Brais
DATE: 12/22/2023
ADDRESS: 14605 49th Street
MARKET: Clearwater
ASSET TYPE: Industrial
BUYER: Basis Industrial (@BasisIndustrial) - Dan Weinstein & Anthony Scavo
SELLER: Hersh Equity Group (@HershEquity) - Juda Hersh (@Flwarehouseguy) & Corey Schwartz
BROKER: Cody Brais (@Cody_Brais) - JLL (@JLL)
SALE PRICE: $6,750,000
SF: 44,562 ~ PPSF: $151
NOTE FROM SELLER: H.E.G. strategically acquired this small-bay asset 25 months ago for $3.65M.65. Through the successful execution of our value-add game plan, including approximately $750k in capital improvements, we achieved a remarkable 51% internal rate of return (IRR) and over a 2X equity multiple for our valued investors.
For inquiries on future investment opportunities or discussions regarding investment sales, kindly reach out to [email protected]View on map
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Address14605 49th Street
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