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MetLife Investment Management Acquires Industrial Asset From Stonemont Financial Group For $50M

Property Image
SOLD
$50,000,000
Taylor Osborne
Cody Brais
John Huguenard
+ 2

Florida

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Industrial348,740 SF
Sold 03/18/2025
the dealplayerscompscontact
Property Image
SOLD

MetLife Investment Management Acquires Industrial Asset From Stonemont Financial Group For $50M

5205 Drane Field Road

See Similar Deals
Industrial348,740 SF
Sold 03/18/2025
Taylor Osborne
Cody Brais
John Huguenard
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$143
Total Square Footage:348,740 SF
Transaction Type:Sale

The property at 5205 Drane Field Road is an industrial asset located in Lakeland, which was sold for $50,000,000.00. The total square footage of the property is 348,740.0.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $50,000,000.00
  • Address: 5205 Drane Field Road
  • Market: Lakeland
  • Square Footage: 348,740.0
  • Seller: Stonemont Financial Group
  • Buyer: MetLife Investment Management
  • Seller's Representatives: John Huguenard (JLL), Luis Castillo (JLL), Cody Brais (JLL), Taylor Osborne (JLL), David Orta Jr. (JLL)

The transaction involved key players including Stonemont Financial Group as the seller and MetLife Investment Management as the buyer. Multiple representatives from JLL, including John Huguenard, Luis Castillo, Cody Brais, Taylor Osborne, and David Orta Jr., facilitated the sale on behalf of the seller.

Players

Luis Castillo
JLL
Luis Castillo
54 deals$1.8B volume(305) 495-5969
BROKER
John Huguenard
JLL
John Huguenard
23 deals$1.5B volume(239) 832-0160
BROKER
Cody Brais
JLL
Cody Brais
37 deals$1.7B volume
BROKER
Taylor Osborne
JLL
Taylor Osborne
16 deals$609.1M volume
BROKER
David Orta Jr.
JLL
David Orta Jr.
6 deals$276.7M volume
BROKER
Stonemont Financial Group
Stonemont Financial Group
SELLER

Details

SOLD
IMAGE: John Huguenard, Luis Castillo, Cody Brais, Taylor Osborne & David Orta Jr. DATE: 03/18/2025 ADDRESS: 5205 Drane Field Road MARKET: Lakeland ASSET TYPE: Industrial BUYER: MetLife Investment Management, LLC SELLER: Stonemont Financial Group BROKERS: John Huguenard (@John.Huguenard), Luis Castillo (@_LuisrCastillo), Cody Brais (@Cody_Brais), Taylor Osborne (@TaylorOsborne_) & David Orta Jr. - JLL (@JLL) SALE PRICE: $50,000,000 SF: 348,740 ~ PPSF: $143

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$177,639.45
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