Sentinel Real Estate Corp. Acquires Office Building In Tampa For $43M
18216 Crane Nest Drive, Tampa, FL, USA
$43,000,000
$373/SF
Building Size
115,000 SF
Asset Type
Office
Closing
Jun 24, 2021
AI
The office property located at 18216 Crane Nest Drive in Tampa, Florida has been sold. The sale took place on June 25, 2021, with a sale price of $43,000,000. The property spans approximately 115,000 square feet, resulting in a price per square foot of $374. The buyer of the property is Sentinel Real Estate Corp., represented by Martin Cawley. The seller of the property is Highwoods Properties Inc.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,000,000
- Address: 18216 Crane Nest Drive, Tampa, Florida
- Market: Tampa
Martin Cawley, representing Sentinel Real Estate Corp., was involved in the purchase of the property. Highwoods Properties Inc. served as the seller in this transaction.
Players
Tampa Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93