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CenterPoint Properties Acquires Warehouse In Hialeah For $61M

Property Image
SOLD
$61,000,000
BC
VS

Florida

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Industrial412,132 SF
Sold 07/20/2020
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Property Image
SOLD

CenterPoint Properties Acquires Warehouse In Hialeah For $61M

3880 West 104th Street, Hialeah, FL, USA

See Similar Deals
Industrial412,132 SF
Sold 07/20/2020
BC
VS
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$148
Total Square Footage:412,132 SF
Transaction Type:Sale

The property involved in this transaction is a warehouse located at 3880 & 3980 South 104th Street in Hialeah. It was sold by Florida East Coast Industries, represented by Vincent Signorello, to CenterPoint Properties, represented by Bob Chapman. The sale took place on 07/20/2020 for a total price of $61,000,000. The warehouse has a total square footage of 412,132, resulting in a price per square foot of $148.

Summary of transaction details:

  • Property Type: Warehouse
  • Transaction Amount: $61,000,000
  • Address: 3880 & 3980 South 104th Street, Hialeah
  • Seller: Florida East Coast Industries - Vincent Signorello
  • Buyer: CenterPoint Properties - Bob Chapman
  • Square footage: 412,132
  • Price per square foot: $148

Bob Chapman, representing CenterPoint Properties, and Vincent Signorello, representing Florida East Coast Industries, were key individuals involved in this transaction.

Players

BC
CenterPoint Properties
Bob Chapman
13 deals$968.1M volume
BUYER
VS
Florida East Coast Industries
Vincent Signorello
2 deals$89M volume
SELLER

Details

SOLD
IMAGE: Bob Chapman & Vincent Signorello DATE: 07/20/2020 ADDRESS: 3880 & 3980 South 104th Street MARKET: Hialeah ASSET TYPE: Warehouse BUYER: CenterPoint Properties - Bob Chapman SELLER: Florida East Coast Industries - Vincent Signorello PRICE: $61,000,000 SF: 412,132 ~ PPSF: $148

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$216,720.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$289,171.12
Annual Debt Service$3,470,053.45