Equus Capital Partners Acquires Industrial Property In West Palm Beach For $41M
SOLD
$41,000,000
Florida
See Similar DealsIndustrial147,689 SF
Sold 02/08/2022
SOLD
Equus Capital Partners Acquires Industrial Property In West Palm Beach For $41M
300 Northpoint Parkway, West Palm Beach, Florida 33407, United States
See Similar DealsIndustrial147,689 SF
Sold 02/08/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$277
Total Square Footage:147,689 SF
Transaction Type:Sale
Equus Capital Partners has acquired an industrial property located at 300 & 1400 Northpoint Parkway in West Palm Beach. The property spans approximately 12.2 acres and was sold by Prologis. The sale was completed for a total price of $41,000,000. The property offers a total square footage of 147,689, resulting in a price per square foot of $278.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $41,000,000
- Address: 300 & 1400 Northpoint Parkway, West Palm Beach
- Market: West Palm Beach
- Acres: 12.2
Daniel DiLella from Equus Capital Partners represented the buyer in this transaction, while Hamid Moghadam represented Prologis as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01
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