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TerraCap Management Sells Tampa Office Property For $14.5M

Property Image
SOLD
$14,500,000
Marc Magliarditi
Kristen McFarland
+ 2

Florida

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Office104,080 SF
Sold 10/10/2022
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Property Image
SOLD

TerraCap Management Sells Tampa Office Property For $14.5M

12906 Tampa Oaks Boulevard, Tampa, Florida 33637, United States

See Similar Deals
Office104,080 SF
Sold 10/10/2022
Marc Magliarditi
Kristen McFarland
+ 2
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$139
Total Square Footage:104,080 SF
Transaction Type:Sale

The office property at 12906 Tampa Oaks Blvd in Tampa was recently sold by TerraCap Management. The transaction took place on 10/10/2022, and the property was sold for $14,500,000. The office building spans 104,080 square feet, resulting in a price per square foot of $139.

Summary of transaction details

Marc Magliarditi and Travis Landes from CBRE represented the buyer in this transaction, while Dale Peterson, Joe Chick, Kristen McFarland Hagen, Courtney Snell, and Nick Sharpe, also from CBRE, represented the seller.

Players

Marc Magliarditi
7 deals$87.9M volume
BROKER

Travis Landes
CBRE
3 deals$34.2M volume
BROKER

Joe Chick
CBRE
9 deals$197.6M volume
BROKER

Kristen McFarland
CBRE
1 deal$14.5M volume
BROKER

Courtney Snell
CBRE
7 deals$122M volume
BROKER

TerraCap Management
SELLER

Details

SOLD
IMAGE: Marc Magliarditi & Travis Landes DATE: 10/10/2022 ADDRESS: 12906 Tampa Oaks Blvd MARKET: Tampa ASSET TYPE: Office SELLER: TerraCap Management BUYER'S REP: Marc Magliarditi & Travis Landes (@TravisLandes) - CBRE (@CBRE) SELLER'S REP: Dale Peterson, Joe Chick, Kristen McFarland Hagen (@KristenCRE_TampaBay), Courtney Snell & Nick Sharpe - CBRE SALE PRICE: $14,500,000 SF: 104,080 ~ PPSF: $139

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77