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JD Warnack Woodlands Acquires Largo Distribution Center From Harrod Properties For $29.6M
SOLD
$29,600,000
Florida
See Similar DealsIndustrial159,402 SF
Sold 10/23/2023
SOLD
JD Warnack Woodlands Acquires Largo Distribution Center From Harrod Properties For $29.6M
8660 133rd Avenue North
See Similar DealsIndustrial159,402 SF
Sold 10/23/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$185
Total Square Footage:159,402 SF
Transaction Type:Sale
A Largo distribution center has been sold for $29.6 million in a recent transaction. The industrial asset, located at 8660 133rd Avenue North, spans 159,402 square feet and is situated near Ulmerton Road and Starkey Road. Completed this year, the warehouse offers flexible tenant options and boasts convenient access to both St. Pete-Clearwater International Airport and Tampa International Airport.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $29,600,000
- Square Footage: 159,402 sq ft
- Address: 8660 133rd Avenue North
- Market: Largo
The buyer of the distribution center is JD Warnack Woodlands, a Colorado Springs-based developer. The seller of the property is Harrod Properties, with Chad Harrod serving as their representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,578,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,162.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$140,319.10
Annual Debt Service$1,683,829.21
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