Updated Oct 24, 2025
Drew Dewitt & David Archibald Of East Capital Partners Acquire Industrial Asset In Port St. Lucie For $3.94M
603 Mercantile Place
$3,937,500
$175/SF
Building Size
22,500 SF
Asset Type
Industrial
Closing
Oct 15, 2025
About this deal
AI
The property involved in this transaction is an industrial asset located at 603 NW Mercantile Place, Port St. Lucie. The sale was finalized for $3,937,500 and encompasses a total area of 22,500 square feet, equating to a price per square foot of $175.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,937,500
- Address: 603 NW Mercantile Place
- Market: Port St. Lucie
- Buyer: Drew Dewitt & David Archibald - East Capital Partners
- Seller: Ted Glasrud Associates FL
- Brokers: Yoni Sunshine & Jason Abitbol - APEX Capital Realty
- Square Footage: 22,500
- Price Per Square Foot: $175
Yoni Sunshine and Jason Abitbol of Apex Capital Realty represented both sides of the transaction, having sourced this exclusive off-market opportunity and procured the buyer, showcasing their expertise in off-market industrial deals across Florida.
On the Map
$3,937,500
$175/SF
Industrial
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Players
Port Saint Lucie 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
4.03%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93