Mark Tabacinic Of Arnet Pharmaceutical Acquires Industrial Property From Hamid Moghadam For $53.1M

The property asset involved in this transaction is an industrial facility located at 2501-2555 Davie Road in the Davie market. This asset spans 12.3 acres with a total square footage of 199,165. The sale price for this property was recorded at $53,100,000, translating to a price per square foot of $267.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $53,100,000
• Buyer: Mark Tabacinic - Arnet Pharmaceutical
• Seller: Hamid Moghadam - Prologis
• Lender: TD Bank
• Loan Amount: $37,170,000
• Total Square Footage: 199,165
• Price per Square Foot: $267
• Leasing Status: Fully leased with lease running through 2035

The buyer, Mark Tabacinic, represents Arnet Pharmaceutical, which has an affiliate that acquired the warehouses from seller Hamid Moghadam of Prologis. This acquisition is noted for being a significant value increase compared to prior sales in the area, indicative of rising Broward industrial rents.