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2701 E County Line Rd, Lutz...

Fairway Investments Acquires Property From Batson-Cook Development Co In Lutz Florida For $64.4M
SOLDOther

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

Bryan Belk

Franklin Street

Broker

$167.6M

vol

11 deals

Broker

Lutz Other Market Snapshot

Boundary boundary · Other · Sale transactions

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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