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11440 NW 122nd St, Miami, F...

Liberty Property LP Leases 34590 Square Feet To Tenant Represented By CBRE And Remax In Medley
LEASEDIndustrial

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:

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

Devin White

CBRE

Broker

$461.7M

vol

22 deals

Broker
LL
Liberty Property LPLandlord

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