Gulfport Warehouse Sold For $2.285M To Justin Rutherford's Torpedo Design

A Gulfport warehouse in Florida has been sold for $2.285 million, at a price of approximately $103 per square foot. The property, located at 1509 49th Street South, spans across 0.85 acres in the Gulfport market. The industrial asset consists of 22,172 square feet.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $2,285,000
• Address: 1509 49th Street South
• Market: Gulfport
• Acres: 0.85
• Square Feet: 22,172
• Price Per Square Foot: $103

The buyer of the warehouse is Justin Rutherford, who is affiliated with Torpedo Design. Notably, Rutherford had been a tenant in the building for two years prior to the purchase. The loan for the transaction was secured through JPMorgan Chase Bank. The broker representing the buyer in this deal is Dan Huntington from Bridgewater Commercial Real Estate.