SOLDIndustrial
Gregory S. Bates Of GID Acquires Industrial Portfolio From Charles Emond Of Le Caisse For $192M
9300 28th Street North, 2891 Gateway Centre Parkway, 2003 Gandy Boulevard North, 2003 Gandy Boulevard, 2005 Gandy Boulevard, 2007 Gandy Boulevard, 9700 18th Street North, 9900 18th Street North, 9965 18th Street North, 10040 18th Street North & 1790 Commerce Avenue North
$192,000,000
$18/SF
Building Size
10,263,000 SF
Asset Type
Industrial
Closing
Jul 21, 2026
AI
GID acquired an industrial portfolio consisting of 10 buildings totaling 933,000 square feet from a La Caisse affiliate for a sale price of $192 million. The properties are strategically located in the Gateway submarket, situated between Pinellas Park and St. Petersburg, Florida. The buildings were constructed between 1997 and 2003, contributing to the overall asset value in the industrial market of the region.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $192,000,000
- Buyer: Gregory S. Bates - GID
- Seller: Charles Emond - Le Caisse
- Square Footage: 933,000
- Price Per Square Foot: $206
- Market: Pinellas Park & St. Petersburg, FL
This transaction was facilitated by Gregory S. Bates representing GID and Charles Emond representing Le Caisse, showcasing the collaboration between these entities in acquiring a significant industrial asset in Florida.
Players
Fort Worth 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93