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
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