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Sale · Industrial

Updated Dec 4, 2024

Eric Mogentale And Jeffrey Quicksilver Of Walton Street Capital Acquire Fort Myers Industrial Park For $155M
SOLDIndustrial

Eric Mogentale And Jeffrey Quicksilver Of Walton Street Capital Acquire Fort Myers Industrial Park For $155M

$155,000,000

$189/SF

Building Size

818,000 SF

Asset Type

Industrial

Closing

Nov 1, 2024

About this deal

AI

The Tri-County Commerce Way property is an industrial asset located at 6115-6150 Tri County Commerce Way in Fort Myers. The property spans 72 acres and encompasses 818,000 square feet of space. It was sold for $155 million, with a price per square foot of $189. The asset is 95% leased and includes four warehouses, featuring tenants such as Ferguson Enterprises.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $155,000,000
  • Address: 6115-6150 Tri County Commerce Way
  • Market: Fort Myers
  • Asset Size: 72 acres
  • Square Footage: 818,000
  • Price per Square Foot: $189
  • Buyer: Eric Mogentale & Jeffrey Quicksilver - Walton Street Capital
  • Seller: Brian Netzky - Glenstar Logistics; Matthew Omundson - Columnar Investments
  • Broker: CBRE

This transaction involved Eric Mogentale and Jeffrey Quicksilver representing Walton Street Capital as the buyers. The sellers included Brian Netzky from Glenstar Logistics and Matthew Omundson from Columnar Investments, highlighting the distinct roles of the parties involved in the deal. The involvement of CBRE as the broker further facilitated this real estate transaction.

Players

Lee & Associates
Lee & AssociatesBrokerage
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Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $189 per square foot on a published $155M for 818,000 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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