Updated Oct 28, 2024
Scannell Properties Sells Industrial Property In St. Petersburg For $94.5M
1950 102nd Avenue North, St. Petersburg, FL, USA
$94,500,000
$398/SF
Building Size
236,976 SF
Asset Type
Industrial
Closing
Nov 1, 2021
About this deal
AI
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
Saint Petersburg 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93