Terreno Realty Corp. Acquires Industrial Assets In Hialeah From Florida East Coast Industries For $48.1M
SOLD
$48,100,000
Florida
See Similar DealsIndustrial274,000 SF
Sold 03/18/2021
SOLD
Terreno Realty Corp. Acquires Industrial Assets In Hialeah From Florida East Coast Industries For $48.1M
4021 West 108th Street, Hialeah, FL, USA
See Similar DealsIndustrial274,000 SF
Sold 03/18/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$175
Total Square Footage:274,000 SF
Transaction Type:Sale
The industrial property located at 4021 & 4071 West 108th St in Hialeah, was recently sold in a transaction. The property, spanning 274,000 square feet, was part of the market in Hialeah. The buyer, Terreno Realty Corp., acquired the property from the seller, Florida East Coast Industries. The sale took place on 03/18/2021 and the transaction amount was $48,100,000. The price per square foot was $176.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $48,100,000
- Address: 4021 & 4071 West 108th St
- Market: Hialeah
- SF: 274,000
- Price per square foot: $176
The buyers in this transaction, Terreno Realty Corp., acquired the industrial property from the sellers, Florida East Coast Industries. Blake Baird represented Terreno Realty Corp. from the agency, Terreno Realty Corp., and Vincent Signorello represented Florida East Coast Industries from the agency, Florida East Coast Industries.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,565,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,889.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$228,018.54
Annual Debt Service$2,736,222.47
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