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Ashley Powell Of Property Reserve Acquires Industrial Warehouse From Armando Codina For $58.94M

Property Image
SOLD
$58,940,000
Armando Codina
Ashley Powell

Florida

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Industrial200,600 SF
Sold 03/31/2025
the dealplayerscompscontact
Property Image
SOLD

Ashley Powell Of Property Reserve Acquires Industrial Warehouse From Armando Codina For $58.94M

4121 W 91st Pl

See Similar Deals
Industrial200,600 SF
Sold 03/31/2025
Armando Codina
Ashley Powell
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$293
Total Square Footage:200,600 SF
Transaction Type:Sale

An industrial property was sold at 4121 West 91st Place in Hialeah, comprising a total space of 200,600 square feet. The sale price of the property was $58,940,000. This facility, part of Beacon Logistics Park, is situated on 10.6 acres and includes features such as 36-foot clear heights.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $58,940,000
  • Address: 4121 West 91st Place
  • Market: Hialeah
  • Square Footage: 200,600
  • Price Per Square Foot: $294
  • Buyer: Ashley Powell - Property Reserve
  • Seller: Armando Codina - Codina Partners

The transaction involved Ashley Powell representing Property Reserve, which is the real estate arm of the Church of Jesus Christ of Latter-Day Saints, acquiring the property from Armando Codina, who represents Codina Partners in this deal.

Players

Ashley Powell
Ashley Powell
3 deals$233.3M volume
BUYER
Armando Codina
Armando Codina
13 deals$736M volume
SELLER

Details

SOLD
IMAGE: Ashley Powell & Armando Codina DATE: 03/31/2025 ADDRESS: 4121 West 91st Place MARKET: Hialeah ASSET TYPE: Industrial ~ ACRES: 10.6 BUYER: Ashley Powell - Property Reserve SELLER: Armando Codina - Codina Partners SALE PRICE: $58,940,000 SF: 200,600 ~ PPSF: $294 NOTE: Codina Partners sold a 200,600-square-foot warehouse at 4121 West 91st Place in Hialeah for $58.94 million to Property Reserve, the real estate arm of the Church of Jesus Christ of Latter-Day Saints. The newly built facility, part of Beacon Logistics Park, sits on 10.6 acres and features 36-foot clear heights.

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

$3,143,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$209,401.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$279,405.67
Annual Debt Service$3,352,868.04