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Link Logistics Acquires Industrial Property In Deerfield Beach For $162M

Property Image
SOLD
$162,000,000
CS
Rick Brugge
Mike Davis
+ 3

Florida

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Industrial677,789 SF
Sold 07/20/2023
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Property Image
SOLD

Link Logistics Acquires Industrial Property In Deerfield Beach For $162M

750 S Powerline Rd D, Deerfield Beach FL 33442

See Similar Deals
Industrial677,789 SF
Sold 07/20/2023
CS
Rick Brugge
Mike Davis
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$239
Total Square Footage:677,789 SF
Transaction Type:Sale

The industrial property located at 750 S Powerline Road in Deerfield Beach has been sold for a price of $162,000,000. The property spans an area of 677,789 square feet, resulting in a price per square foot of $239. The transaction took place between the buyer, Link Logistics, and the seller, PGIM Real Estate.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $162,000,000
  • Address: 750 S Powerline Road
  • Market: Deerfield Beach
  • Square Footage: 677,789
  • Price per Square Foot: $239
  • Buyer: Link Logistics
  • Seller: PGIM Real Estate

In this deal, the seller was represented by Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Greg Miller, and Chloe Strada from Cushman & Wakefield. They played a vital role in negotiating the transaction on behalf of PGIM Real Estate.

Players

Dominic Montazemi
Cushman & Wakefield
Dominic Montazemi
90 deals$4.2B volume
BROKER
Mike Davis
Cushman & Wakefield
Mike Davis
65 deals$3.6B volume
BROKER
Rick Brugge
Cushman & Wakefield
Rick Brugge
65 deals$2.8B volume
BROKER
Rick Colon
Cushman & Wakefield
Rick Colon
55 deals$2.7B volume
BROKER
CS
Cushman & Wakefield
Chloe Strada
11 deals$708.8M volume
BROKER
Gregory (Greg) Miller
Cushman & Wakefield
Gregory Miller
37 deals$852.1M volume(954) 377-0472
BROKER
Link Logistics Real Estate
Link Logistics Real Estate
BROKERAGE
Link Logistics Real Estate
Link Logistics Real Estate
BUYER
PGIM
PGIM
SELLER
PGIM
PGIM
LENDER

Details

SOLD
IMAGE: Dominic Montazemi, Rick Colon, Mike Davis, Chloe Strada, Rick Brugge & Greg Miller DATE: 07/20/2023 ADDRESS: 750 S Powerline Road MARKET: Deerfield Beach ASSET TYPE: Industrial BUYER: Link Logistics (@LinkLogisticsRE) SELLER: PGIM Real Estate SELLER'S REP: Mike Davis, Rick Brugge, Rick Colon (@TheRealRickColon), Dominic Montazemi (@DFMontazemi), Greg Miller & Chloe Strada (@ChloeStrada) - Cushman & Wakefield (@CushWake) SALE PRICE: $162,000,000 SF: 677,789 ~ PPSF: $239

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,640,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$575,551.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$767,962.65
Annual Debt Service$9,215,551.78