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8100 FL-33, Lakeland, FL, USA

Intercontinental Real Estate Corp Acquires Industrial Asset In Lakeland From Ackerman & Co. For $108.7M
SOLDIndustrial

Intercontinental Real Estate Corp Acquires Industrial Asset In Lakeland From Ackerman & Co. For $108.7M

8100 FL-33, Lakeland, FL, USA

$108,740,000

$152/SF

Building Size

710,962 SF

Asset Type

Industrial

Closing

Apr 21, 2021

AI

Intercontinental Real Estate Corp, represented by Steve Centrella, acquired an industrial property in Lakeland, Florida for $108,740,000. The property is located at 8100 FL-33 and spans a total area of 710,962 square feet. The transaction took place on April 22, 2021. The asset type is industrial, and the market is Lakeland.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $108,740,000
  • Address: 8100 FL-33
  • Market: Lakeland
  • Buyer: Intercontinental Real Estate Corp - Steve Centrella
  • Seller: Ackerman & Co. - Evan Ziegler & TransWestern
  • Tenant: Amazon - Jeff Bezos

The buyer, Intercontinental Real Estate Corp, was represented by Steve Centrella. The seller, Ackerman & Co., was represented by Evan Ziegler and TransWestern. The brokers involved in the deal were Rick Brugge, Mike Davis, Stewart Calhoun, Rick Colon, Casey Masters, Dominic Montazei, and Zachary Eicholtz, all from Cushman & Wakefield. The tenant of the property is Amazon, headed by Jeff Bezos.

Players

Casey Masters

Cushman & Wakefield

Broker

$803.1M

vol

7 deals

Broker
IC
Intercontinental Real Estate CorporationBuyer
AC
Ackerman & Co.Seller

Lakeland 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

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93