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11690 Northwest 105th Street

Bridge Industrial Acquires Miami Office Property For $42.1M With Buyer's Rep Steve Poulos & Seller's Rep Robert Sanchez
SOLDOffice

Bridge Industrial Acquires Miami Office Property For $42.1M With Buyer's Rep Steve Poulos & Seller's Rep Robert Sanchez

11690 Northwest 105th Street

$42,100,000

$168/SF

Building Size

250,000 SF

Asset Type

Office

Closing

Mar 6, 2020

AI

The office property located at 11690 Northwest 105th Street in Miami has been sold. The property spans approximately 16.8 acres and was purchased by Bridge Industrial for a total of $42,100,000. The transaction took place on 03/07/2023. The office space encompasses 250,000 square feet, resulting in a price per square foot of $168.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $42,100,000
  • Address: 11690 Northwest 105th Street, Miami
  • Market: Miami
  • ACRES: 16.8

The buyer of the property is Bridge Industrial, represented by Steve Poulos. The seller, Ryder System, was represented by Robert Sanchez. The brokers involved in the deal were Hermen Rodriguez, Luis Castillo, and Matthew McCormack from JLL.

Players

Hermen Rodriguez

JLL

Broker

$1.8B

vol

23 deals

Broker
Bridge Industrial
Bridge IndustrialBrokerage
Steve Poulos

Steve Poulos

Bridge Industrial

Buyer

$2B

vol

27 deals

Buyer

Malcolm Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.38%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93