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1600 NW 18th St, Pompano Be...

Pompano Industrial Venture LLC Leases 26100 Square Feet To The Restaurant Warehouse In Pompano Beach
LEASEDIndustrial

Pompano Industrial Venture LLC Leases 26100 Square Feet To The Restaurant Warehouse In Pompano Beach

1600 NW 18th St, Pompano Beach, FL...

Building Size

26,100 SF

Asset Type

Industrial

Closing

Nov 12, 2018

AI

The property involved in this transaction is located at 1600 NW 18th St, Pompano Beach, FL. The total area of the property is 26,100 square feet, and it is situated within the Pompano Beach market. This location is part of a new, four-building spec warehouse and distribution campus known as the Pompano Center of Commerce II, which totals more than 376,600 square feet.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1600 NW 18th St, Pompano Beach, FL
  • Tenant: The Restaurant Warehouse
  • Landlord: Pompano Industrial Venture LLC
  • Landlord's Representatives: Christopher (Chris) Metzger, Christopher Thomson (Cushman & Wakefield)
  • Total Leases Secured: 76,105 square feet
  • Occupancy Rate: 67 percent

In addition to The Restaurant Warehouse, two other tenants have also secured leases in the Pompano Center of Commerce II. Crown Products has leased 28,787 square feet at 1650 Northwest 18th Street, represented by Les Byron of Sperry Van Ness. Gourmet Innovations has relocated from Fort Lauderdale and leased 21,291 square feet at 1550 Northwest 18th Street, with representation from Howard Elfman of Distinctive Home Realty.

Players

Christopher Metzger

Cushman & Wakefield

Broker

$160.4M

vol

26 deals

Broker

Pompano Beach 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