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10700 Enterprise Way

Coaster Fine Furniture Renews Lease For 250K& SF Distribution Center At Miramar Park Of Commerce
LEASEDIndustrial

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

Peter Apol

Sunbeam Properties

Broker

2 deals

Broker

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