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TA Realty Acquires Fort Lauderdale Property At 4140 SW 30th Ave For $36.1M

Property Image
SOLD
$36,100,000
Jose Lobon
Amy Julian
+ 1

Florida

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Industrial220,000 SF
Sold 11/01/2018
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Property Image
SOLD

TA Realty Acquires Fort Lauderdale Property At 4140 SW 30th Ave For $36.1M

4140 SW 30th Ave, Fort Lauderdale, F...

See Similar Deals
Industrial220,000 SF
Sold 11/01/2018
Jose Lobon
Amy Julian
+ 1
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$164
Total Square Footage:220,000 SF
Transaction Type:Sale

The property asset involved in this transaction is the Port 95 Distribution Portfolio, comprising roughly 220,000 square feet of industrial space located at 4140 SW 30th Ave, Fort Lauderdale, Florida. The property was sold for $36,100,000.00 and is currently 100 percent leased. It features two tilt-wall buildings with 24-foot clear span height, dock-high configurations, and substantial truck court depths.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $36,100,000.00
  • Square Footage: 220,000
  • Address: 4140 SW 30th Ave, Fort Lauderdale, FL
  • Market: Fort Lauderdale
  • Seller: Guardian Life Insurance Co.
  • Buyer's Representative: TA Realty
  • Seller's Representatives: José Lobón (CBRE), Amy Julian (CBRE), Chris Riley (Blaze Capital Partners), Joe Chick (CBRE)

The sale was facilitated by a team from CBRE Capital Markets, which included Vice Chairman Christian Lee, Vice Chairman Chris Riley, and Senior Vice President José Lobón. They were supported by Vice President Amy Julian and Financial Analyst Joe Chick from CBRE's Miami office, along with Senior Vice President Tom O’Loughlin and First Vice President Larry Genet from CBRE’s Fort Lauderdale office, who assisted in marketing the property.

Players

Amy Julian
34 deals$2.1B volume(305) 381-6478
BROKER

Jose Lobon
CBRE
53 deals$3.8B volume(305) 381-6446
BROKER

Joe Chick
CBRE
9 deals$197.6M volume
BROKER

Chris Riley
Blaze Capital Partners
1 deal$36.1M volume(843) 800-8167
BROKER

TA Realty
BUYER

Details

SOLD
IMAGE: 4140 SW 30th Ave, Fort Lauderdale, F... MARKET: Fort Lauderdale SELLER'S REP: José Lobón(CBRE), Amy Julian(CBRE), Chris Riley(Blaze Capital Partners), Joe Chick(CBRE) BUYER: TA Realty SELLER: PRICE: $36,100,000.00 SF: 220000

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

$1,925,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$128,255.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$171,132.42
Annual Debt Service$2,053,589.01