Directed Capital Leases 13460 Square Feet At 150 2nd Ave N From Tower Realty Partners
150 2nd Ave N, Saint Petersburg, FL...
Building Size
13,460 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
The property involved in this transaction is located at 150 2nd Ave N, Saint Petersburg, FL, comprising a total of 13,460 square feet. The asset is situated in the Saint Petersburg market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not provided
- Address: 150 2nd Ave N, Saint Petersburg, FL
- Square Feet: 13,460
- Landlord: Tower Realty Partners
- Landlord's Representative: Ceci Tricoli - Feldman Equities
- Tenant: Directed Capital
The transaction included key participants such as Ceci Tricoli, representing Tower Realty Partners as the landlord's representative, and Directed Capital as the tenant in the lease agreement.
Players
Saint Petersburg Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93