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Morgan Stanley Acquires Industrial Property In Pompano Beach For $25.5M

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SOLD
$25,500,000

Florida

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Industrial134 SF
Sold 12/29/2022
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Property Image
SOLD

Morgan Stanley Acquires Industrial Property In Pompano Beach For $25.5M

3001 West Copans Road, Pompano Beach, Florida 33069, United States

See Similar Deals
Industrial134 SF
Sold 12/29/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$190,298
Total Square Footage:134 SF
Transaction Type:Sale

The industrial property located at 3001 West Copans Road in Pompano Beach has been sold in a transaction facilitated by Morgan Stanley and IDI Logistics, represented by Mark Saturno. The property spans across 11.3 acres and features a total square footage of 134,000. The sale price for this transaction was $25,500,000, resulting in a price per square foot of $190.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $25,500,000
  • Date: 12/29/2022
  • Address: 3001 West Copans Road
  • Market: Pompano Beach
  • Acres: 11.3
  • Buyer: Morgan Stanley
  • Seller: IDI Logistics - Mark Saturno
  • Square Footage: 134,000
  • Price per Square Foot: $190

Morgan Stanley acted as the buyer in this transaction, while IDI Logistics, represented by Mark Saturno, served as the seller. The deal was completed on 12/29/2022 and involved an industrial property measuring 134,000 square feet. With a purchase price of $25,500,000, this transaction resulted in a price per square foot of $190.

Players

Mark Saturno
6 deals$533.9M volume
SELLER

Morgan Stanley
LENDER

Details

SOLD
IMAGE: Mark Saturno DATE: 12/29/2022 ADDRESS: 3001 West Copans Road MARKET: Pompano Beach ASSET TYPE: Industrial ~ ACRES: 11.3 BUYER: Morgan Stanley (@Morgan.Stanley) SELLER: IDI Logistics - Mark Saturno SALE PRICE: $25,500,000 SF: 134,000 ~ PPSF: $190

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

$1,360,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11