Updated Oct 28, 2024
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
About this deal
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