Updated Mar 18, 2025
Keel Property Group Acquires Industrial Asset From Symphony Salvage For $3.5M In Sarasota
6289 Tower Lane
$3,500,000
$300/SF
Building Size
11,632 SF
Asset Type
Industrial
Closing
Mar 17, 2025
About this deal
AI
The property asset involved in this transaction is an industrial asset located at 6289 Tower Lane in the Sarasota market. The sale price of the property was $3,500,000.00, with a total square footage of 11,632.0.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,500,000.00
- Address: 6289 Tower Lane
- Market: Sarasota
- Square Footage: 11,632.0
- Buyer: Keel Property Group
- Seller: Symphony Salvage
- Brokers: Chris DiBitetto - ERES Companies
Key individuals in the deal include the buyer, Keel Property Group, and the seller, Symphony Salvage, with Chris DiBitetto from ERES Companies representing the transaction. The involvement of these parties highlights the collaboration in the closed transaction.
On the Map
$3,500,000
$300/SF
Industrial
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Players
Sarasota 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93