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20311 Sheridan St, Fort Lau...

Updated Oct 29, 2024

Vital Pharmaceuticals Acquires Industrial Property In Fort Lauderdale For $35M
SOLDIndustrial

Vital Pharmaceuticals Acquires Industrial Property In Fort Lauderdale For $35M

20311 Sheridan St, Fort Lauderdale, F...

$35,000,000

$155/SF

Building Size

224,572 SF

Asset Type

Industrial

Closing

Feb 21, 2019

About this deal

AI

The industrial property at 20311 Sheridan St, Fort Lauderdale, Florida, was sold for $35,000,000.00. The asset spans 224,572 square feet and is part of the upcoming South Florida Distribution Center in Pembroke Pines, conveniently located near major transportation routes.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $35,000,000.00
  • Market: Fort Lauderdale
  • Buyer: Vital Pharmaceuticals
  • Seller: Core5 Industrial Partners
  • Buyer's Representative: Sky Groden (JLL)
  • Seller's Representative: Larry Dinner (CBRE)

The sale was brokered by CBRE, with Senior Vice Presidents Larry Dinner, Tom O’Loughlin, and Larry Genet representing the sellers Helms Development and Core5 Industrial Partners. Managing Director Sky Groden of JLL facilitated the transaction for Vital Pharmaceuticals. The South Florida Distribution Center is slated to include three buildings totaling 750,000 square feet of warehouse and office space, with Vital Pharmaceuticals set to establish their corporate headquarters, distribution, and production facilities at this location.

On the Map

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$35,000,000

$155/SF

Industrial

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Players

Sky Groden

JLL

Broker

$207.6M

vol

13 deals

Broker
VP
Vital PharmaceuticalsBuyer
CP
Core5 Industrial PartnersSeller
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Fort Lauderdale Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $155 per square foot on a published $35M for 224,572 square feet (2019).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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