Updated Dec 4, 2024
EAST Capital Partners Acquires Industrial Asset From Skylake Executive Industrial Park For $48M
19501 Northeast 10th Avenue
$48,000,000
$228/SF
Building Size
210,219 SF
Asset Type
Industrial
Closing
Oct 2, 2024
About this deal
AI
The industrial asset located at 19501 Northeast 10th Avenue in Miami has been sold for $48,000,000. The property encompasses a total square footage of 210,219 and represents a price per square foot of $228.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $48,000,000
- Buyer: EAST Capital Partners - Drew DeWitt & David Archibald
- Seller: Skylake Executive Industrial Park - Sherra Payne
- Brokers: Eli Sasson Bril, Jose Sasson Lerner & Roberto Susi - AXIOM Capital Advisors
- Date of Transaction: 10/02/2024
The transaction features the involvement of EAST Capital Partners, represented by Drew DeWitt and David Archibald. The seller, Skylake Executive Industrial Park, was represented by Sherra Payne. The brokerage team from AXIOM Capital Advisors included Eli Sasson Bril, Jose Sasson Lerner, and Roberto Susi, who facilitated the off-market sale.
Players
Miami 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93