CTS Engines Acquires Jet Engine Testing Facility In Jupiter For $16M
18855 Bee Line Highway, Jupiter, Florida 33478, United States
$16,000,000
$3,878/SF
Building Size
4,125 SF
Asset Type
Industrial
Closing
May 31, 2022
AI
The Jet Engine Testing Facility located at 18855 Bee Line Highway in Jupiter has been sold for a total price of $16,000,000. The special purpose property spans over 7,000 square feet, resulting in a price per square foot of $2,286. The transaction took place on June 1, 2022.
Summary of transation details
- Property Type: Special Purpose
- Transaction Amount: $16,000,000
- Address: 18855 Bee Line Highway
- Market: Jupiter
- Buyer: CTS Engines
- Seller: Brian Neff
- Seller's Representative: Mark M. Rubin, Bastian Laggerbauer, and Steven Wasserman from Colliers International
The buyer of the property is CTS Engines, and the seller is Brian Neff. Mark M. Rubin, Bastian Laggerbauer, and Steven Wasserman from Colliers International represented the seller in the transaction.
Players
Jupiter 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93