Burke Construction Group Acquires Industrial Asset On Pasco Street For $5 Million With Jason Jones As Seller

The transaction involved an industrial asset located at 3890 Pasco Street in the Pensacola market. The property was sold for $5,000,000, covering a total area of 107,000 square feet, translating to a price per square foot of $46.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,000,000
• Square Footage: 107,000
• Price Per Square Foot: $46
• Buyer: Burke Construction Group
• Seller: Jason Jones - F2K Investments
• Brokers: Phillip Maisano, James Blanda, Charles Keeney, Roman Melnyk, and Anthony Maisano - industrial storage brokers
• Cap Rate for Seller: 2.6%
• Future Pro Forma Cap Rate Goal for Buyer: 13%

The transaction featured notable involvement from several brokers, including Phillip Maisano, James Blanda, Charles Keeney, Roman Melnyk, and Anthony Maisano, who acted as representatives for the industrial sector in this deal. The seller successfully exited the deal, and the buyer has plans to bring rents to market over the next year.