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CIP Real Estate Acquires Industrial Property In Tampa For $74.3M
SOLD
$74,300,000
Florida
See Similar DealsIndustrial405,772 SF
Sold 11/10/2022
SOLD
CIP Real Estate Acquires Industrial Property In Tampa For $74.3M
1907 US Route 301
See Similar DealsIndustrial405,772 SF
Sold 11/10/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$183
Total Square Footage:405,772 SF
Transaction Type:Sale
The industrial property located at 1907 US-301 and 5903 Hampton Oaks Pkwy in Tampa has been sold at a price of $74,300,000. The property spans across 405,772 square feet, resulting in a price per square foot of $183.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $74,300,000
- Square Footage: 405,772
- Price per Square Foot: $183
- Address: 1907 US-301 & 5903 Hampton Oaks Pkwy, Tampa
CIP Real Estate has acquired the property from Albany Road Estate Partners. Rick Brugge from Cushman & Wakefield represented the buyer, while the seller was represented by their own representatives. The lender for this transaction was BankUnited, with mortgage brokers Jason Hochman and Ron Granite also from Cushman & Wakefield.
Players
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BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,962,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$263,972.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$352,219.91
Annual Debt Service$4,226,638.87
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