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7300 Commercial Circle, For...

Gabe Alexander Acquires Industrial Property In Fort Pierce For $12M
SOLDIndustrial

Gabe Alexander Acquires Industrial Property In Fort Pierce For $12M

7300 Commercial Circle, Fort Pierce, Florida 34951, United States

$12,000,000

$104/SF

Building Size

115,000 SF

Asset Type

Industrial

Closing

Mar 16, 2022

AI

An industrial property located at 7300, 7337, & 7339 Commercial Circle in Fort Pierce has been sold for $12,000,000. The property spans 115,000 square feet, resulting in a price per square foot of $104. The transaction took place on 03/17/2022.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $12,000,000
  • Address: 7300, 7337, & 7339 Commercial Circle, Fort Pierce
  • Market: Fort Pierce
  • Buyer: Gabe Alexander
  • Seller: Babak Ebrahimzadeh - MasterMind
  • Broker: Rachel Mitrogiannis - Ascella Group, LLC
  • Square Footage: 115,000
  • Price per Square Foot: $104

Rachel Mitrogiannis from Ascella Group, LLC represented the buyer, Gabe Alexander, in this industrial property transaction.

Players

Rachel Mitrogiannis

Broker

$45M

vol

3 deals

Broker

Gabe Alexander

Buyer

$48M

vol

2 deals

Buyer
Babak Ebrahimzadeh

Babak Ebrahimzadeh

Seller

$111.1M

vol

8 deals

Seller

Fort Pierce 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93