Badia Spices Acquires Tech Data's Sweetwater Industrial Property For $44M
SOLD
$44,000,000
Florida
See Similar DealsIndustrial313,000 SF
Sold 11/03/2020
SOLD
Badia Spices Acquires Tech Data's Sweetwater Industrial Property For $44M
2200 Northwest 112th Avenue, Sweetwater, FL, USA
See Similar DealsIndustrial313,000 SF
Sold 11/03/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$140
Total Square Footage:313,000 SF
Transaction Type:Sale
An industrial property located at 2200 Northwest 112th Avenue in Sweetwater has recently been sold. The property spans 313,000 square feet and was sold for a total price of $44,000,000, resulting in a price per square foot of $141. The transaction took place on November 3, 2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Address: 2200 Northwest 112th Avenue
- Market: Sweetwater
Joseph Badia, representing Badia Spices, acquired the property, while Rich Hume, representing Tech Data, served as the seller. The deal was facilitated by Steve Medwin and Nick Wigoda from Newmark.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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