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3701 South Flamingo Road, M...

CenterPoint Properties Acquires Industrial Property In Miramar For $170.1M With Buyer's Rep P.J. Charlton
SOLDIndustrial

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

Jose Lobon

CBRE

Broker

$3.8B

vol

53 deals

Broker

P.J. Charlton

CenterPoint Properties

Buyer

$197.6M

vol

2 deals

Buyer
Blackstone
BlackstoneSeller
Revantage
RevantageSeller
Amazon
AmazonTenant

Miramar Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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