Scannell Properties Sells Industrial Property In St. Petersburg For $94.5M
SOLD
$94,500,000
Florida
See Similar DealsIndustrial236,976 SF
Sold 11/01/2021
SOLD
Scannell Properties Sells Industrial Property In St. Petersburg For $94.5M
1950 102nd Avenue North, St. Petersburg, FL, USA
See Similar DealsIndustrial236,976 SF
Sold 11/01/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$398
Total Square Footage:236,976 SF
Transaction Type:Sale
The industrial property located at 1950 102nd Ave in St. Petersburg has been sold. With a total area of 62.93 acres, this property is situated in a prime location. The sale was facilitated by John Huguenard and Luis Castillo of JLL, representing the seller Scannell Properties. The transaction took place on 11/01/2021.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $94,500,000
- Square Footage: 236,976
- Price per Square Foot: $399
This successful transaction highlights the expertise and dedication of John Huguenard and Luis Castillo, representing JLL. Their efforts in facilitating this sale have resulted in the property being transferred to a new owner at the aforementioned price. The sale of this industrial property signifies a noteworthy accomplishment in the St. Petersburg market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,040,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$335,738.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$447,978.21
Annual Debt Service$5,375,738.54
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