Easterly Government Properties Acquires Office Building In Tampa For $70.4M
SOLD
$70,400,000
Florida
See Similar DealsOffice138,000 SF
Sold 05/20/2022
SOLD
Easterly Government Properties Acquires Office Building In Tampa For $70.4M
5525 West Gray Street, Tampa, Florida 33609, United States
See Similar DealsOffice138,000 SF
Sold 05/20/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$510
Total Square Footage:138,000 SF
Transaction Type:Sale
The office building located at 5525 W Gray St in Tampa has been sold. The property spans 138,000 square feet and was sold for $70,400,000, resulting in a price per square foot of $510. The transaction took place on 05/20/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $70,400,000
- Address: 5525 W Gray St, Tampa
- Market: Tampa
Easterly Government Properties acquired the office building from Highwoods Properties in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,754,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$250,116.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$333,731.92
Annual Debt Service$4,004,783.00
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