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Longpoint Realty Partners Acquires Altamonte Springs Industrial Property For $20.3M

Property Image
SOLD
$20,300,000
Jordan  Stenholm
Zachary Eicholtz
+ 6

Florida

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Industrial185,600 SF
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SOLD

Longpoint Realty Partners Acquires Altamonte Springs Industrial Property For $20.3M

217-311 Altamonte Commerce Boulevard, Altamonte Springs, FL, USA

See Similar Deals
Industrial185,600 SF
Sold
Jordan  Stenholm
Zachary Eicholtz
+ 6
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$109
Total Square Footage:185600 SF
Transaction Type:Sale

A 185,600 square foot industrial property in Altamonte Springs has been sold for $20.3 million. The property, located at 217-311 Altamonte Commerce Boulevard & 620-658 Douglas Avenue, spans 13 acres. The sale price per square foot was calculated to be $109, while the price per acre was $1,561,538.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $20,300,000
  • Address: 217-311 Altamonte Commerce Boulevard & 620-658 Douglas Avenue
  • Market: Altamonte Springs

Longpoint Realty Partners acquired the property from SunCap Opportunity Fund LLC. The deal was facilitated by a team of brokers from Cushman & Wakefield, including Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Jared Bonshire, David Perez, Zachary Eicholtz, Ryan Jenkins, and Jordan Stenholm.

Players

David Perez
8 deals$169.2M volume
BROKER

Dominic Montazemi
Cushman & Wakefield
90 deals$4.2B volume
BROKER

Mike Davis
Cushman & Wakefield
65 deals$3.6B volume
BROKER

Rick Brugge
Cushman & Wakefield
65 deals$2.8B volume
BROKER

Jared Bonshire
Cushman & Wakefield
7 deals$170.5M volume
BROKER

Rick Colon
Cushman & Wakefield
55 deals$2.7B volume
BROKER

Zachary Eicholtz
Cushman & Wakefield
17 deals$1.1B volume
BROKER

Ryan Jenkins
Cushman & Wakefield
10 deals$652.5M volume
BROKER

Jordan  Stenholm
Cushman & Wakefield
1 deal$20.3M volume
BROKER

Longpoint Realty Partners
BUYER

Details

SOLD
IMAGE: Jared Bonshire, Rick Brugge, Mike Davis, Rick Colon, & Dominic Montazemi DATE: 01/19/2021 ADDRESS: 217-311 Altamonte Commerce Boulevard & 620-658 Douglas Avenue MARKET: Altamonte Springs ASSET TYPE: Industrial BUYER: Longpoint Realty Partners SELLER: SunCap Opportunity Fund LLC BROKERS: Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Jared Bonshire, David Perez, Zachary Eicholtz, Ryan Jenkins, & Jordan Stenholm - Cushman & Wakefield PRICE: $20,300,000 SF: 185,600 ~ PPSF: $109 ACRES: 13 ~ PPA: $1,561,538

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$72,121.62
Cash-on-Cash Return-1.27%
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