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11702 Trade Park Way

Steven McCraney Secures $25.83 Million Loan For Industrial Asset At 11702 Trade Park Way
FINANCEDIndustrial

Steven McCraney Secures $25.83 Million Loan For Industrial Asset At 11702 Trade Park Way

11702 Trade Park Way

$25,830,000

$86/SF

Building Size

299,030 SF

Asset Type

Industrial

Closing

Apr 3, 2025

AI

The asset involved in this transaction is an industrial property located at 11702 Trade Park Way in the Tampa market, encompassing a total square footage of 299,030. The transaction was secured by a construction loan amounting to $25,830,000.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $25,830,000
  • Address: 11702 Trade Park Way
  • Market: Tampa
  • Asset Size: 299,030 SF
  • Landlord: Steven McCraney
  • Brokers: Melissa Rose, Michael DiCosimo, Justin Ratcliffe, and Nicole Barba - JLL
  • Loan Type: Construction

The key individuals involved in this transaction include landlord Steven McCraney and brokers Melissa Rose, Michael DiCosimo, Justin Ratcliffe, and Nicole Barba who represent the interests of the landlord in this deal. Their collaboration facilitated the successful acquisition of the construction loan for the property.

Players

Michael DiCosimo

JLL

Broker

$1.6B

vol

37 deals

Broker

Babylon Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.61%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93