Liberty Property LP Leases 34590 Square Feet To Tenant Represented By CBRE And Remax In Medley
11440 NW 122nd St, Miami, FL, 33178
Building Size
34,590 SF
Asset Type
Industrial
Closing
Oct 25, 2018
AI
The property asset involved is a 34,590-square-foot building located at 11440 NW 122nd St, Miami, FL, 33178 in the Medley market. It is part of the Miami International Tradeport, a 1.7 million square foot industrial park developed by Liberty Property Limited Partnership, scheduled to be delivered in the first quarter of 2019.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Landlord: Liberty Property LP
- Tenant: Kerry Freight (USA)
- Square Feet: 34,590
- Tenant's Representatives: Kevin Dudley (CBRE), David Albert (CBRE), Devin White (CBRE), Andrew Fernandez (Remax)
The leasing deal was facilitated by a team from CBRE, inclusive of Miami-based representatives David Albert, Devin White, and Andrew Fernandez, along with New Jersey-based Kevin Dudley. The tenant, Kerry Logistics, is set to occupy the facility in December 2019, contributing to the logistics functionalities within the industrial park.
Players
Medley 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