Tricera And Merrimac Secure Tenants For Soleste Seaside Development In Dania Beach
4 Federal Highway
Building Size
7,200 SF
Asset Type
Commercial
Closing
Oct 10, 2023
AI
Tricera Capital, along with Merrimac Ventures, has successfully secured two new tenants for the Soleste Seaside development located in Dania Beach. Memorial Healthcare System has leased 4,700 square feet of commercial space, while Antonio's Pizza has signed a lease for 2,500 square feet. This leasing activity highlights Tricera's ability to activate ground-floor commercial spaces in large mixed-use developments. Soleste Seaside, which includes 340 upscale rental units, is expected to attract additional tenants in the near future.
Summary of Transaction Details:
- Property Type: Commercial
- Transaction Amount: Not specified
- Square Footage: 7,200
- Address: 4 North Federal Highway
- Market: Dania Beach
The landlord representatives for this deal were Ben Mandell and Dustin Ballard from Tricera Capital, along with Dev Motwani from Merrimac Ventures. On the tenant side, Melida Akiti represented Memorial Healthcare System while Antonio's Pizza negotiated the lease independently. The transaction was facilitated by the broker representatives Donald VanBeach, Kaley Tuning, and Elizabeth Metott from Native Realty.
Players
Dania Commercial Market Snapshot
Boundary boundary · Commercial · 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