Morgan Stanley Private Wealth Advisors Acquires Industrial Property In Fort Lauderdale For $28M
SOLD
$28,000,000
Florida
See Similar DealsIndustrial174,129 SF
Sold 02/04/2020
SOLD
Morgan Stanley Private Wealth Advisors Acquires Industrial Property In Fort Lauderdale For $28M
3233 Southwest 12th Avenue, Fort Lauderdale, FL, USA
See Similar DealsIndustrial174,129 SF
Sold 02/04/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$160
Total Square Footage:174,129 SF
Transaction Type:Sale
The industrial property located at 3233-3303 Southwest 12th Avenue in Fort Lauderdale has been sold for a price of $28,000,000. The property spans approximately 174,129 square feet, resulting in a price per square foot of $161. The transaction took place on 02/04/2020.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $28,000,000
- Address: 3233-3303 Southwest 12th Avenue, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Morgan Stanley Private Wealth Advisors
- Seller: Bridge Development Partners - Kevin Carroll
Morgan Stanley Private Wealth Advisors acted as the buyer in this transaction. On the other hand, Bridge Development Partners, represented by Kevin Carroll, served as the seller of this industrial property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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