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3705 62nd Street North

Updated Dec 4, 2024

PODS Moving & Storage Leases Industrial Space In Pinellas Park & Tampa, FL
LEASEDIndustrial

PODS Moving & Storage Leases Industrial Space In Pinellas Park & Tampa, FL

3705 62nd Street North & 1871 Massaro Boulevard

Building Size

154,000 SF

Asset Type

Industrial

Closing

May 16, 2024

About this deal

AI

The property involved in the transaction is an industrial asset located at 3705 62nd Street North in Pinellas Park, FL, and 1871 Massaro Boulevard in Tampa, Florida. The property spans 154,000 square feet and was leased by PODS Moving & Storage.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not Provided
  • Landlord: Ultimate Realty - Michael Sabbagh & Mark Sabbagh
  • Tenant: PODS Moving & Storage
  • Landlord's Rep: Jessica Mizrahi - Cushman & Wakefield
  • Tenant's Rep: Alex Beachman - Cushman & Wakefield

The deal was facilitated by Alex Beachman of Cushman & Wakefield acting as the tenant's representative and Jessica Mizrahi, also from Cushman & Wakefield, representing the landlord. Both parties successfully negotiated the lease agreement for the industrial property in Pinellas Park and Tampa, signifying a collaborative effort in finalizing the transaction.

Players

Jessica Mizrahi

Cushman & Wakefield

Broker

1 deal

Broker

Sacramento Industrial Market Snapshot

Boundary boundary · Industrial · Lease 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

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