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Bridge Investment Group Acquires Industrial Property In Deerfield Beach For $15.2M

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SOLD
$15,200,000

Florida

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Industrial73,216 SF
Sold 02/02/2022
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Property Image
SOLD

Bridge Investment Group Acquires Industrial Property In Deerfield Beach For $15.2M

1471 West Hillsboro Boulevard, Deerfield Beach, Florida 33442, United States

See Similar Deals
Industrial73,216 SF
Sold 02/02/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$207
Total Square Footage:73,216 SF
Transaction Type:Sale

The industrial property located at 1471 West Hillsboro Boulevard in Deerfield Beach has been sold in a transaction facilitated by Michael Scarpino of Scarpino Commercial Real Estate Services. The sale was completed on 02/02/2022, with Tucker Enterprises as the seller and Bridge Investment Group, represented by Robert Morse, as the buyer.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $15,200,000
  • Address: 1471 West Hillsboro Boulevard, Deerfield Beach
  • Market: Deerfield Beach
  • Buyer: Bridge Investment Group - Robert Morse
  • Seller: Tucker Enterprises
  • Broker: Michael Scarpino - Scarpino Commercial Real Estate Services
  • Square Footage: 73,216
  • Price per Square Foot: $208

The sale of this industrial property marks a significant transaction in the Deerfield Beach market. The involvement of Bridge Investment Group, represented by Robert Morse, highlights their continued investment in the industrial sector. Tucker Enterprises, the seller, can benefit from the sale proceeds, while Michael Scarpino of Scarpino Commercial Real Estate Services played a crucial role in facilitating the deal. This transaction demonstrates the active nature of the industrial real estate market in Deerfield Beach.

Players

2 deals$30.4M volume
BROKER


Bridge Investment Group
LENDER

Details

SOLD
IMAGE: Robert Morse & Michael Scarpino DATE: 02/02/2022 ADDRESS: 1471 West Hillsboro Boulevard MARKET: Deerfield Beach ASSET TYPE: Industrial BUYER: Bridge Investment Group - Robert Morse SELLER: Tucker Enterprises BROKER: Michael Scarpino - Scarpino Commercial Real Estate Services SALE PRICE: $15,200,000 SF: 73,216 ~ PPSF: $208

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

$810,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06