Coaster Fine Furniture Renews Lease For 250K& SF Distribution Center At Miramar Park Of Commerce
10700 Enterprise Way
Building Size
250,441 SF
Asset Type
Industrial
Closing
Feb 6, 2024
AI
Coaster Fine Furniture has renewed its lease for a 250,441-square-foot showroom and distribution center at Miramar Park of Commerce in South Florida. The property is located at 10700 Enterprise Way in the market of Miramar. The strategic location and support for Coaster's expansion were influential factors in the decision to renew the lease. Coaster Fine Furniture has been a tenant at Miramar Park of Commerce since relocating from Pompano Beach in 2001.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Square Footage: 250,441 SF
- Address: 10700 Enterprise Way, Miramar
- Market: Miramar
The lease renewal was facilitated by Sunbeam Properties & Development, who acted as the landlord in the transaction. The brokers involved in the deal were Peter Apol and Ryan Goggins from Sunbeam Properties. Their expertise and assistance helped in finalizing the lease agreement between Coaster Fine Furniture and Sunbeam Properties & Development.
Players
Miramar 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