Midtown Capital Partners Acquires West Palm Beach Office & Industrial Properties For $37M
2253 Vista Parkway, West Palm Beach, Florida 33411, United States
$37,000,000
$211/SF
Building Size
174,970 SF
Asset Type
Industrial
Closing
Jan 17, 2022
AI
The property involved in this transaction is located at 2253, 2255, & 2257 Vista Parkway, and 6903, 6917, & 6931 Vista Parkway North in West Palm Beach. The asset type of the property is both office and industrial. The sale took place on January 17, 2022.
Summary of transaction details
- Property Type: Office & Industrial
- Transaction Amount: $37,000,000
- Total Square Footage: 174,970 SF
- Price Per Square Foot: $211
The buyer of the property is Midtown Capital Partners, represented by Alejandro Velez. The seller of the property is McCraney Property Company. The seller's representatives in the deal were Mike Davis and Dominic Montazemi from Cushman & Wakefield.
Players
West Palm Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93