Updated Dec 4, 2024
Stonelake Capital Partners Acquires Industrial Properties In Pompano Beach And Sunrise For $12.52M
1701 Blount Road & 5251 Northwest 103rd Avenue
$12,520,000
Building Size
—
Asset Type
Industrial
Closing
Aug 8, 2024
About this deal
AI
An industrial asset located at 1701 Blount Road & 5251 Northwest 103rd Avenue in the markets of Pompano Beach and Sunrise has been sold. The transaction was completed on 08/08/2024 for a total price of $12,520,000, which includes the acquisition of a Pompano Beach building for $7.25 million and a Sunrise warehouse for $5.27 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,520,000
- Buyer: Stonelake Capital Partners
- Broker Representatives: Christian Baena & Greg Milopoulos - Lee & Associates
- Additional Transactions: This acquisition marks Stonelake's third and fifth deals in Broward County for the year.
Lee & Associates brokers, Greg Milopoulos and Christian Baena, facilitated these off-market industrial sales for Stonelake Capital Partners. The deals signify ongoing activity in the industrial real estate market, demonstrating the buyer's strategic expansion in the area.
On the Map
$12,520,000
Industrial
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Players
Pompano Beach 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93