Updated Oct 28, 2024
Seagis Property Group Acquires Industrial Property In Fort Lauderdale For $29.5M
1700 Eller Drive, Fort Lauderdale, FL, USA
$29,500,000
$609/SF
Building Size
48,411 SF
Asset Type
Industrial
Closing
Nov 30, 2021
About this deal
AI
The industrial property located at 1700 Eller Drive in Fort Lauderdale has been sold for a price of $29,500,000. The property spans a total of 10 acres, providing ample space for industrial activities. With a total square footage of 48,411, the property offers a generous amount of space for various industrial operations. The price per square foot is calculated at $609, reflecting the value of the property in the market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,500,000
- Address: 1700 Eller Drive, Fort Lauderdale
- Market: Fort Lauderdale
- Acreage: 10 acres
- Square Footage: 48,411
- Price per Square Foot: $609
The buyer in this transaction is Seagis Property Group, represented by Erin Plourde. Seagis Property Group is a reputable company in the real estate industry, known for their expertise in managing and investing in industrial properties. The seller, Eller Drive Properties, was represented by Daniela Ribadeneira. Both parties have successfully closed the transaction, ensuring a smooth transfer of ownership for the industrial property.
On the Map
$29,500,000
$609/SF
Industrial
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Players
Fort Lauderdale Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93