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3501 Fancy Farms Road

Ward Fitzgerald Of EQT Exeter Acquires Industrial Park In Plant City From TA Realty LLC
SOLDIndustrial

Ward Fitzgerald Of EQT Exeter Acquires Industrial Park In Plant City From TA Realty LLC

3501 Fancy Farms Road

Building Size

400,833 SF

Asset Type

Industrial

Closing

Jan 21, 2025

AI

The property asset involved in the transaction is an industrial park located at 3501 Fancy Farms Road in Plant City, Florida. The asset encompasses a total square footage of 400,833 and was fully leased to four tenants at the time of the sale. The property was developed in 2022 and 2023, contributing to its functional industrial space.

Summary of transaction details:

This transaction involved key individuals such as Ward Fitzgerald representing EQT Exeter as the buyer, along with sellers James O. Buckingham and Michael R. Haggerty representing TA Realty LLC. Cushman & Wakefield played a significant role in brokering the sale, facilitating the transition of ownership from TA Realty LLC to EQT Exeter.

Players

Mike Davis

Cushman & Wakefield

Broker

$3.6B

vol

65 deals

Broker

Plant City 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93