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10701 NW 140th St, Miami La...

Duke Realty Leases 50000 Square Feet To Ice River Springs In Hialeah Gardens
LEASEDIndustrial

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

Frank Trelles

Vivo Real Estate Group

Broker

$104.8M

vol

39 deals

Broker
State Street Realty
State Street RealtyBrokerage
Duke Realty
Duke RealtyBrokerage
Duke Realty
Duke RealtyLandlord

Hialeah Gardens 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