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6900 NW 77th Ct, Miami, FL,...

Italkraft Acquires 67000 SF Property At 6900 NW 77th Ct Miami With Frank Trelles As Buyer's Rep
SOLDIndustrial

Italkraft Acquires 67000 SF Property At 6900 NW 77th Ct Miami With Frank Trelles As Buyer's Rep

6900 NW 77th Ct, Miami, FL, 33166

Building Size

67,000 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

A 67,000 square foot industrial property located at 6900 NW 77th Ct, Miami, FL, 33166 has been sold. The property is situated in the Miami market and boasts a favorable location with frontage to the Palmetto Expressway (SR-826), providing significant exposure for retail operations in the kitchen and bath business.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 6900 NW 77th Ct, Miami, FL, 33166
  • Buyer: Italkraft
  • Seller: Unknown
  • Buyer’s Representative: Frank Trelles - State Street Realty
  • Seller’s Representatives: Rene Vivo and Tommy Gil - Vivo Group
  • Market: Miami
  • Square Footage: 67,000

The acquisition was facilitated by Frank Trelles, SIOR, Vice President of State Street Realty, alongside Armando Romero of Broker Nation, who represented Italkraft in the transaction. The seller's representation was handled by Rene Vivo and Tommy Gil from the Vivo Group. According to Trelles, the thriving South Florida industrial market has made it increasingly difficult to locate high-quality warehouses at reasonable prices, making this acquisition a strategic move for Italkraft's expansion.

Players

Frank Trelles

Vivo Real Estate Group

Broker

$104.8M

vol

39 deals

Broker
Colliers
ColliersBrokerage

Miami 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93