Brixmor Acquires Retail Property In Naples For $97M
SOLD
$97,000,000
+ 1
Florida
See Similar DealsRetail307,000 SF
Sold 12/12/2021
SOLD
Brixmor Acquires Retail Property In Naples For $97M
10940 Tamiami Trail North
See Similar DealsRetail307,000 SF
Sold 12/12/2021
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$316
Total Square Footage:307,000 SF
Transaction Type:Sale
Located at 10940 Tamiami Trail N in Naples, this retail property was recently sold in a closed transaction. The property spans 307,000 square feet and has been acquired by Brixmor, a prominent buyer in the real estate market. The sale was facilitated by JLL brokers Danny Finkle, Eric Williams, Kim Flores, and Cameron Beck. The property was previously owned by Courtelis Company and Barron Collier Company.
Summary of transaction details
- Property Type: Retail
- Sale Price: $97,000,000
- Square Footage: 307,000
- Price per Square Foot: $316
- Market: Naples
This significant transaction underscores the notable involvement of Brixmor as the buyer and the JLL brokerage team, represented by Danny Finkle, Eric Williams, Kim Flores, and Cameron Beck. The sale price of $97,000,000 reflects the value placed on this retail property in the Naples market. The deal demonstrates the expertise and capabilities of the brokers at JLL in successfully facilitating major commercial transactions.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,173,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$344,620.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$459,829.49
Annual Debt Service$5,517,953.85
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