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Bridge Logistics Properties Acquires Industrial Property In Pompano Beach For $5.8M

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SOLD
$5,800,000

Florida

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Industrial31,834 SF
Sold 02/16/2023
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SOLD

Bridge Logistics Properties Acquires Industrial Property In Pompano Beach For $5.8M

290 Southwest 14th Avenue

See Similar Deals
Industrial31,834 SF
Sold 02/16/2023
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$182
Total Square Footage:31,834 SF
Transaction Type:Sale

Bridge Logistics Properties has acquired an industrial property located at 290 Southwest 14th Avenue in Pompano Beach. The property, with a total square footage of 31,834, was sold by Bruce Fischman of GFS Corp. The transaction was facilitated by broker Jordan Beck of Berger Realty. The sale price for this transaction was $5,800,000, resulting in a price per square foot of $182.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,800,000
  • Address: 290 Southwest 14th Avenue, Pompano Beach
  • Market: Pompano Beach
  • Buyer: Bridge Logistics Properties
  • Seller: Bruce Fischman - GFS Corp
  • Broker: Jordan Beck - Berger Realty
  • Square Footage: 31,834
  • Price per Square Foot: $182

This deal highlights the involvement of key individuals and companies in the transaction, with Bridge Logistics Properties as the buyer, Bruce Fischman representing GFS Corp as the seller, and Jordan Beck of Berger Realty acting as the broker.

Players

Jordan Beck
29 deals$278.5M volume
BROKER

BUYER

Details

SOLD
IMAGE: Jordan Beck DATE: 02/16/2023 ADDRESS: 290 Southwest 14th Avenue MARKET: Pompano Beach ASSET TYPE: Industrial BUYER: Bridge Logistics Properties (@BLP_BridgeLogistics) SELLER: Bruce Fischman - GFS Corp BROKER: Jordan Beck (@JorBeck954) - Berger Realty (@BergerRealtyGroup) SALE PRICE: $5,800,000 SF: 31,834 ~ PPSF: $182

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$309,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51