Basis Industrial Acquires Industrial Portfolio In Space Coast, Melbourne & Cocoa For $35M
SOLD
$35,000,000
Florida
See Similar DealsIndustrial1,960,000 SF
Sold 11/21/2022
SOLD
Basis Industrial Acquires Industrial Portfolio In Space Coast, Melbourne & Cocoa For $35M
7715 Ellis Road, 2624 Aurora Road, 2885 Electronics Drive, 2861 Electronics Drive, 709 Silver Palm Avenue, 641 Clearlake Rd & 463 Forrest Ave
See Similar DealsIndustrial1,960,000 SF
Sold 11/21/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$17
Total Square Footage:1,960,000 SF
Transaction Type:Sale
The industrial property located at 7715 Ellis Road, 2624 Aurora Road, 2885 & 2861 Electronics Drive, 709 Silver Palm, 641 Clearlake Road & 463 Forrest Ave in the Space Coast, Melbourne & Cocoa market has been sold in a closed transaction. The property spans over 280,000 square feet and was sold for a price of $35,000,000, resulting in a price per square foot of $125.
Summary of Transaction Details
- Property Type: Industrial
- Sale Price: $35,000,000
- Square Footage: 280,000
The buyer of the property is Basis Industrial, represented by Anthony Scavo, while the sellers are Fred Boozer Jr., James Boozer, and Wade Stafford. The transaction was facilitated by broker Ken Hobson from Marcus & Millichap.
This transaction marks an important milestone for Basis Industrial, as they expand their portfolio in the Space Coast, Melbourne & Cocoa market. The acquisition of this industrial property aligns with their strategic growth plans and solidifies their presence in the region.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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