Sealy & Co. Acquires Industrial Property In Lakeland For $98M
SOLD
$98,000,000
Florida
See Similar DealsIndustrial841,849 SF
Sold 08/16/2022
SOLD
Sealy & Co. Acquires Industrial Property In Lakeland For $98M
5300 Allen K Breed Hwy, Lakeland, Florida 33811, United States
See Similar DealsIndustrial841,849 SF
Sold 08/16/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$116
Total Square Footage:841,849 SF
Transaction Type:Sale
The industrial property located at 5300 Allen K. Breed Hwy in Lakeland has been sold for a total of $98,000,000. With a total square footage of 841,849, the price per square foot of the property amounts to $116. The seller of the property is Oxford Properties Group. The buyer, Sealy & Co., was represented by John Nida and Jason Gandy. The brokerage firm CBRE facilitated the deal, with Frank Fallon serving as the broker for the transaction.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $98,000,000
- Address: 5300 Allen K. Breed Hwy
- Market: Lakeland
The transaction was completed on August 16, 2022. This sale represents a significant investment in the industrial market within Lakeland. The involvement of Sealy & Co. and Oxford Properties Group, along with their respective representatives, John Nida, Jason Gandy, and Frank Fallon, demonstrates the active nature of the industrial real estate sector in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$348,173.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$464,570.00
Annual Debt Service$5,574,839.97
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