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JD Warmack Woodlands LP Acquires 130,000 SF Warehouse In Oldsmar For $22.3M From Harrod Properties

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SOLD
$22,300,000

Florida

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Industrial130,000 SF
Sold 08/01/2023
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SOLD

JD Warmack Woodlands LP Acquires 130,000 SF Warehouse In Oldsmar For $22.3M From Harrod Properties

500 Brooker Creek Blvd Oldsmar, FL 34677, USA

See Similar Deals
Industrial130,000 SF
Sold 08/01/2023
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$171
Total Square Footage:130,000 SF
Transaction Type:Sale

A 130,000-square-foot warehouse located at 500 Brooker Creek Boulevard in Oldsmar has been sold for $22.3 million. The buyer, JD Warmack Woodlands LP, a Colorado Springs-based developer, acquired the industrial property from Harrod Properties. Situated on a sprawling 11-acre plot of land, the warehouse offers ample space for various industrial operations. With a price per square foot of $172, this transaction marks a significant investment in the Oldsmar market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $22,300,000
  • Address: 500 Brooker Creek Boulevard
  • Market: Oldsmar
  • Size: 130,000 square feet
  • Price per Square Foot: $172

The sale of this warehouse not only represents a substantial financial transaction but also highlights the involvement of key individuals and companies. JD Warmack Woodlands LP, the buyer in this deal, has demonstrated their commitment to expanding their real estate portfolio with this acquisition. Meanwhile, Harrod Properties, represented by Chad Harrod, acted as the seller's representative in this transaction. The successful sale of this property showcases the thriving real estate market in Oldsmar and the confidence investors have in its potential for growth and development.

Players

3 deals$74.6M volume
SELLER

Details

SOLD
IMAGE: Chad Harrod DATE: 08/01/2023 ADDRESS: 500 Brooker Creek Boulevard MARKET: Oldsmar ASSET TYPE: Industrial ~ ACRES: 11 BUYER: JD Warmack Woodlands LP SELLER: Harrod Properties - Chad Harrod SALE PRICE: $22,300,000 SF: 130,000 ~ PPSF: $172 NOTE: A Colorado Springs-based developer, JD Warmack Woodlands LP, bought a 130,000-square-foot warehouse in Oldsmar for $22.3 million from Harrod Properties. The facility received funding from Pinellas County's Employment Sites Program to attract employers for the long term.

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

$1,189,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,227.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$105,713.38
Annual Debt Service$1,268,560.52