Adler Real Estate Partners Acquires Industrial Property In Pinellas Park For $24.5M
3845 Gateway Centre Boulevard, Pinellas Park, Florida 33782, United States
$24,500,000
$183/SF
Building Size
133,694 SF
Asset Type
Industrial
Closing
Sep 6, 2022
AI
An industrial property located at 3845 Gateway Centre Blvd in Pinellas Park has been sold for a total price of $24,500,000. The property spans over 133,694 square feet, resulting in a price per square foot of $183.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $24,500,000
- Date: 09/07/2022
- Address: 3845 Gateway Centre Blvd
- Market: Pinellas Park
The buyer of the property is Adler Real Estate Partners, represented by Matthew Adler. The seller is Z Asset Management Corp. The deal was facilitated by Rick Brugge from Cushman & Wakefield, who served as the broker.
Players
Pinellas Park 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93