Updated Jan 2, 2025
Denholtz Properties Acquires Industrial Property In Tampa From First Industrial Realty Trust For $26.5M
5455 W Waters Ave, Tampa, FL, USA
$26,500,000
$117/SF
Building Size
225,651 SF
Asset Type
Industrial
Closing
Feb 25, 2020
About this deal
AI
The industrial property located at 5455 W Waters Ave in Tampa has been sold in a recent transaction. The property, spanning 225,651 square feet, was purchased by Denholtz Properties for a total price of $26,500,000. This amounts to a price per square foot of $117. The sale was facilitated by the seller's representatives, Mike Davis and Rick Brugge of Cushman & Wakefield. The seller in this transaction was First Industrial Realty Trust.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $26,500,000
- Address: 5455 W Waters Ave, Tampa
- Market: Tampa
- Asset Type: Industrial
Denholtz Properties, a real estate company, acted as the buyer in this transaction. The seller, First Industrial Realty Trust, was represented by Mike Davis and Rick Brugge of Cushman & Wakefield. It is noteworthy to mention that the property was sold for a price per square foot of $117. This successful deal highlights the active industrial market in Tampa.
On the Map
$26,500,000
$117/SF
Industrial
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Players
Tampa Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93