Updated Dec 4, 2024
James Morris Sells Industrial Asset At 601 Roseland Drive In West Palm Beach For $15M
601 Roseland Drive
$15,000,000
$261/SF
Building Size
57,282 SF
Asset Type
Industrial
Closing
Aug 15, 2024
About this deal
AI
The property involved in this transaction is an industrial asset located at 601 Roseland Drive, West Palm Beach. The sale price of the property was $15,000,000, and it encompasses a total square footage of 57,282, which translates to a price per square foot of $261.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 601 Roseland Drive
- Market: West Palm Beach
- Square Footage: 57,282
- Price per Square Foot: $261
- Seller: James Morris
- Seller's Representative: Yishai Sinai - Biscayne Advisors
- Buyer's Representatives: Roberto Susi & Jose Sasson Lerner - AXIOM Capital Advisors
The transaction features James Morris as the seller, represented by Yishai Sinai from Biscayne Advisors. On the buy-side, the representatives were Roberto Susi and Jose Sasson Lerner from AXIOM Capital Advisors.
On the Map
$15,000,000
$261/SF
Industrial
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Players
West Palm Beach 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93