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15501 SW 29th St, Hollywood...

Ryder Logistics Leases 152573 Square Feet At 15501 SW 29th St In Miramar Florida
LEASEDIndustrial

Ryder Logistics Leases 152573 Square Feet At 15501 SW 29th St In Miramar Florida

15501 SW 29th St, Hollywood, FL, 330...

Building Size

152,573 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property involved in the transaction is a ±304,428-square-foot distribution center located at 15501 SW 29th Street in the Miramar Centre Business Park. This facility features a rear-load design, Interstate 75 visibility, a 32-foot clear height, and a 130-foot truck court. It is equipped with 48 dock doors and energy-efficient T-5 lighting. The site spans ±20 acres and includes amenities such as restaurants and shops within walking distance.

Summary of transaction details:

The Cushman & Wakefield South Florida Industrial Team, including Matt McAllister, Chris Metzger, Rick Etner Jr., and Christopher Thomson, represented Cabot Properties in the lease negotiations with Ryder Logistics, accommodated by brokers Jose and Sebastian Juncadella of Fairchild Partners. Ryder Logistics relocated from Seneca Park in Pembroke Pines, where it previously occupied ±80,000 square feet, to this new location at Cabot Miramar and will take occupancy immediately. Cabot Miramar is currently 100 percent leased, having recently been acquired by Cabot Properties.

Players

Richard Etner Jr

Cushman & Wakefield

Broker

$171.9M

vol

18 deals

Broker
Cabot Properties
Cabot PropertiesLandlord

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