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3233 Southwest 12th Avenue,...

Morgan Stanley Private Wealth Advisors Acquires Industrial Property In Fort Lauderdale For $28M
SOLDIndustrial

Morgan Stanley Private Wealth Advisors Acquires Industrial Property In Fort Lauderdale For $28M

3233 Southwest 12th Avenue, Fort Lauderdale, FL, USA

$28,000,000

$160/SF

Building Size

174,129 SF

Asset Type

Industrial

Closing

Feb 3, 2020

AI

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.

Players

Morgan Stanley
Morgan Stanley Buyer

Kevin Carroll

Bridge Development Partners

Seller

$311.1M

vol

5 deals

Seller
Morgan Stanley
Morgan Stanley Lender

Fort Lauderdale Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93