Nuveen Real Estate Acquires Lakeland Industrial Property For $41.2M
8054 State Rd 33 N, Polk City, FL 33868, USA
$41,200,000
$93/SF
Building Size
440,000 SF
Asset Type
Industrial
Closing
Aug 4, 2020
AI
The industrial property located at 8054 State Road 33 North in Lakeland has been sold for a total price of $41,200,000. The asset comprises a total area of 440,000 square feet with a price per square foot of $94. The transaction took place on 08/05/2020.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $41,200,000
- Address: 8054 State Road 33 North
- Market: Lakeland
- Square Footage: 440,000
- Price per Square Foot: $94
The seller of the property is Brennan Investment Group and Grandview Partners, while the buyer is Nuveen Real Estate. The deal was facilitated by brokers Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, Zachary Eicholtz, and Brooke Tulley.
Players
Lakeland Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93