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Flocchini/Van Wagner Families Acquire Retail Property On Narcoossee Rd In Orlando For $35M

Property Image
SOLD
$35,000,000
Whitaker Leonhardt
Brad Peterson
+ 1

Florida

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Retail60,557 SF
Sold 09/02/2021
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Property Image
SOLD

Flocchini/Van Wagner Families Acquire Retail Property On Narcoossee Rd In Orlando For $35M

13000 Narcoossee Road, Orlando, FL 32832, USA

See Similar Deals
Retail60,557 SF
Sold 09/02/2021
Whitaker Leonhardt
Brad Peterson
+ 1
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$578
Total Square Footage:60,557 SF
Transaction Type:Sale

The retail property located at 13000 Narcoossee Rd in Orlando has been sold for a price of $35,000,000. The transaction took place on 09/02/2021. The property spans a total area of 60,557 square feet, resulting in a price per square foot of $578. It sits on a land area of 14.6 acres, with a price per acre of $2,397,260. The buyers in this deal are the Flocchini/Van Wagner Families, while the sellers are North American Development Group and Blackfin Partners Investments.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $35,000,000
  • Address: 13000 Narcoossee Rd.
  • Market: Orlando
  • Square Feet: 60,557
  • Price Per Square Foot: $578
  • Land Area: 14.6 acres
  • Price Per Acre: $2,397,260

The sale of the property was facilitated by JLL Capital Markets, with Brad Peterson, Whitaker Leonhardt, Michael Brewster, and Tommy Isola serving as the brokers representing the Flocchini/Van Wagner Families. The involvement of these key individuals and companies highlights the collaborative effort that contributed to the successful completion of this transaction.

Players

Tommy Isola
16 deals$269.7M volume(702) 236-1186
BROKER

Brad Peterson
Colliers
31 deals$631.9M volume
BROKER

Whitaker Leonhardt
Colliers
29 deals$609.2M volume
BROKER

Michael Brewster
Colliers
10 deals$191.1M volume(813) 758-8797
BROKER

JLL
BROKERAGE

Details

SOLD
IMAGE: Michael Brewster, Whitaker Leonhardt, Tommy Isola & Brad Peterson DATE: 09/02/2021 ADDRESS: 13000 Narcoossee Rd. MARKET: Orlando ASSET TYPE: Retail BUYER: Flocchini/Van Wagner Families SELLER: North American Development Group & Blackfin Partners Investments BROKERS: Brad Peterson, Whitaker Leonhardt, Michael Brewster & Tommy Isola - JLL Capital Markets SALE PRICE: $35,000,000 SF: 60,557 ~ PPSF: $578 ACRES: 14.6 ~ PPA: $2,397,260

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
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