Fairway Investments Acquires Property From Batson-Cook Development Co In Lutz Florida For $64.4M
2701 E County Line Rd, Lutz, FL, 33559
Building Size
64,441 SF
Asset Type
Other
Closing
Nov 19, 2023
AI
Fairway Investments has acquired a 64,441-square-foot shopping center named Livingston Market Place, located at 2701 E County Line Rd, Lutz, FL, 33559. This property is situated on 32.8 acres and is anchored by a Publix supermarket. Other tenants include Heartland Dental, Papa John’s, Prime Barber, and 40 Thieves Irish Pub. The shopping center was completed in 2022 and was fully leased at the time of the sale.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 64,441
- Address: 2701 E County Line Rd, Lutz, FL, 33559
- Market: Lutz
- Seller: Batson-Cook Development Co
- Buyer: Fairway Investments
- Seller's Representative: Bryan Belk - Franklin Street
The sale was arranged by Bryan Belk and John Tennant of Franklin Street representing the seller, a partnership between Tampa-based Dunphy Development and Atlanta-based Batson-Cook Development Co. The comprehensive involvement of these parties underscores the collaborative nature of the transaction.
Players
Lutz Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
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