Duke Realty Leases 50000 Square Feet To Ice River Springs In Hialeah Gardens
10701 NW 140th St, Miami Lakes, FL...
Building Size
50,000 SF
Asset Type
Industrial
Closing
Sep 4, 2018
AI
The property involved in this transaction is located at 10701 NW 140th St, Miami Lakes, FL, within the Hialeah Gardens market. This asset features a total square footage of 50,000 and is part of a larger complex known as Miami Industrial Logistics Center, which encompasses nearly 677,000 square feet across three buildings.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 10701 NW 140th St, Miami Lakes, FL
- Market: Hialeah Gardens
- Square Feet: 50,000
- Landlord: Duke Realty
- Tenant: Ice River Springs
- Landlord's Rep: Brian Cabielles, Frank Trelles (State Street Realty)
- Tenant's Rep: Newmark Grubb Knight Frank
Ice River Springs, a bottled water company, has expanded its existing lease by an additional 50,000 square feet at this location. The company focuses on producing private-label brands, including “Ice River Green.” Three companies signed leases at the Miami Industrial Logistics Center, underscoring the demand for warehouse and distribution space in the area.
Players
Hialeah Gardens Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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