Sentinel Real Estate Corp. Acquires Office Building In Tampa For $43M
SOLD
$43,000,000
Florida
See Similar DealsOffice115,000 SF
Sold 06/25/2021
SOLD
Sentinel Real Estate Corp. Acquires Office Building In Tampa For $43M
18216 Crane Nest Drive, Tampa, FL, USA
See Similar DealsOffice115,000 SF
Sold 06/25/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$373
Total Square Footage:115,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25
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