Updated Oct 28, 2024
Realterm Logistics Acquires Industrial Property In Fort Lauderdale For $28.6M
1900 Northwest 21st Avenue, Fort Lauderdale, FL, USA
$28,600,000
$314/SF
Building Size
90,882 SF
Asset Type
Industrial
Closing
May 14, 2020
About this deal
AI
An industrial property located at 1900 Northwest 21st Avenue in Fort Lauderdale has been sold in a recent transaction. The property, spanning 90,882 square feet, was purchased by Realterm Logistics for a total price of $28,600,000. This amounts to a price per square foot of $315. The property sits on a 10.4-acre lot, resulting in a price per acre of $2,750,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,600,000
- Square Footage: 90,882
- Address: 1900 Northwest 21st Avenue
- Market: Fort Lauderdale
- Buyer: Realterm Logistics - Robert Fordi
- Seller: Jonathan Cox - The Federated Companies
The buyer of the property is Realterm Logistics, represented by Robert Fordi. On the other hand, the seller is Jonathan Cox, who is affiliated with The Federated Companies. This transaction showcases the active real estate market in Fort Lauderdale and highlights the significant investment made in the industrial sector.
On the Map
$28,600,000
$314/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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93