AEW Capital Management Acquires Industrial Property In Jacksonville For $45M
SOLD
$45,000,000
Florida
See Similar DealsIndustrial469,830 SF
Sold 07/25/2022
SOLD
AEW Capital Management Acquires Industrial Property In Jacksonville For $45M
600 Whittaker Road, Jacksonville, Florida 32218, United States
See Similar DealsIndustrial469,830 SF
Sold 07/25/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$95
Total Square Footage:469,830 SF
Transaction Type:Sale
A 469,830 square foot industrial property located at 600 Whittaker Rd in Jacksonville has been sold for $45,000,000. The property was purchased by AEW Capital Management from the sellers, LRC Properties & Machine Investment Group. The sale was facilitated by brokers Luis Castillo, Cody Brais, and Luke Pope from JLL.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $45,000,000
- Address: 600 Whittaker Rd, Jacksonville
- Market: Jacksonville
- Square Footage: 469,830
The transaction took place on 07/25/2022. The property, with a price per square foot of $96, was acquired by AEW Capital Management from the sellers, LRC Properties & Machine Investment Group. Brokers Luis Castillo, Cody Brais, and Luke Pope from JLL facilitated the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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