CenterPoint Properties Acquires Industrial Property In Miramar For $170.1M With Buyer's Rep P.J. Charlton
3701 South Flamingo Road, Miramar, Florida 33027, United States
$170,100,000
$243/SF
Building Size
700,000 SF
Asset Type
Industrial
Closing
May 1, 2022
AI
The industrial property located at 3701 Flamingo Road, 2601 & 2701 SW 145th Avenue in Miramar has been sold in a recent transaction. Spanning across 44 acres, this industrial asset is situated in a prime location.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $170,100,000
- Square Footage: 700,000
- Market: Miramar
The buyer of this property is CenterPoint Properties, represented by P.J. Charlton. On the other hand, Blackstone's Revantage acted as the seller. The deal was facilitated by brokers Jose Lobon, Trey Barry, Frank Fallon, and Royce Rose from CBRE.
Amazon is the tenant for this industrial property.
With a price of $170,100,000, the property's price per square foot stands at $243.
Players
Miramar 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93