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Industrial properties in Or...

Eitan Holder, Moshe Genet, Ben Genet, David Garfinkle & Craig Sternberg Acquire Industrial Property For $20.5M In Ormond Beach & Port Orange
SOLDIndustrial

Eitan Holder, Moshe Genet, Ben Genet, David Garfinkle & Craig Sternberg Acquire Industrial Property For $20.5M In Ormond Beach & Port Orange

$20,500,000

$55/SF

Building Size

369,888 SF

Asset Type

Industrial

Closing

Oct 4, 2023

AI

The industrial property located in Ormond Beach & Port Orange has been sold. The property spans a total of 184,944 square feet, with a price per square foot of $111. The transaction took place on October 4, 2023, and the sale price amounted to $20,500,000.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $20,500,000
  • Size: 184,944 square feet
  • Price per Square Foot: $111

The deal involved several buyers, namely Eitan Holder, Moshe Genet, Ben Genet, David Garfinkle, and Craig Sternberg. Their purchase of the industrial property highlights their interest in the Ormond Beach & Port Orange market. Their collective involvement demonstrates a significant investment in the industrial sector, indicating their confidence in the potential for growth and return on investment.

Players

Benjamin Genet

Genet Property Group

Broker

$185M

vol

12 deals

Broker
Eitan Holder

Eitan Holder

Buyer

$30.8M

vol

4 deals

Buyer

Market 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

0.77%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93