Updated Dec 4, 2024
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
Market 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93