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Link Logistics Acquires Industrial Property In Tampa From Hines For $94.51M

Property Image
SOLD
$94,510,000
CS
Ryan Jenkins
Rick Brugge
+ 2

Florida

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Industrial599,976 SF
Sold 05/02/2024
the dealplayerscompscontact
Property Image
SOLD

Link Logistics Acquires Industrial Property In Tampa From Hines For $94.51M

7918 Harney Road

See Similar Deals
Industrial599,976 SF
Sold 05/02/2024
CS
Ryan Jenkins
Rick Brugge
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$157
Total Square Footage:599,976 SF
Transaction Type:Sale

The industrial property located at 7918 Harney Road in Tampa was recently sold for $94,510,000. Spanning 599,976 square feet, the property was acquired by Link Logistics from the seller Hines at a price of $158 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $94,510,000
  • Address: 7918 Harney Road
  • Market: Tampa

The sale of this industrial property was facilitated by the seller's representatives from Cushman & Wakefield, including Mike Davis, Rick Brugge, Rick Colon, Chloe Strada, and Ryan Jenkins.

Players

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
Ryan Jenkins
Cushman & Wakefield
Ryan Jenkins
10 deals$652.5M volume
BROKER
CS
Cushman & Wakefield
Chloe Strada
11 deals$708.8M volume
BROKER

Details

SOLD
IMAGE: Rick Colon, Ryan Jenkins, Mike Davis, Chloe Strada & Rick Brugge DATE: 05/02/2024 ADDRESS: 7918 Harney Road MARKET: Tampa ASSET TYPE: Industrial BUYER: Link Logistics (@LinkLogisticsre) SELLER: Hines (@Hines) SELLER'S REP: Mike Davis, Rick Brugge, Rick Colon (@TheRealRickColon), Chloe Strada (@Chloestrada) & Ryan Jenkins - Cushman & Wakefield (@CushWake) SALE PRICE: $94,510,000 SF: 599,976 ~ PPSF: $158

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

$5,040,533.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$335,774.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$448,025.62
Annual Debt Service$5,376,307.40