Cabot Properties Acquires Industrial Property In Miramar For $71.6M
SOLD
$71,600,000
+ 4
Florida
See Similar DealsIndustrial304,428 SF
Sold 08/11/2020
SOLD
Cabot Properties Acquires Industrial Property In Miramar For $71.6M
15501 Southwest 29th Street, Miramar, FL, USA
See Similar DealsIndustrial304,428 SF
Sold 08/11/2020
+ 4
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$235
Total Square Footage:304,428 SF
Transaction Type:Sale
The industrial property located at 15501 SW 29th Street in Miramar has been sold. The transaction took place on August 11, 2021. The property was sold by Bridge Industrial to Cabot Properties for a total sale price of $71,600,000. The property spans across 304,428 square feet, resulting in a price per square foot of $235.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $71,600,000
- Address: 15501 SW 29th Street
- Market: Miramar
- Buyer: Cabot Properties
- Seller: Bridge Industrial
- Brokers: Mike Davis, Rick Brugge, Dominic Montazemi, Rick Colon, Chris Metzger, Matt McAllister, and Rick Etner - Cushman & Wakefield
Notable individuals involved in the deal include Mike Davis, Rick Brugge, Dominic Montazemi, Rick Colon, Chris Metzger, Matt McAllister, and Rick Etner from Cushman & Wakefield representing the buyer and seller in this transaction.
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,818,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$254,379.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$339,420.53
Annual Debt Service$4,073,046.34
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