Longpoint Realty Partners Leases 83,793 Square Feet To Halpern’s Steak And Seafood In Fort Lauderdale
1919 Northwest 19th Street
Building Size
83,793 SF
Asset Type
Industrial
Closing
Oct 28, 2024
AI
The property involved in this transaction is an industrial asset located at 1919 Northwest 19th Street in Fort Lauderdale. It encompasses a total of 83,793 square feet, featuring an expansion of 14,560 square feet. The asset is situated within the Parkway Commerce Center, strategically positioned for access to I-95 and key transportation hubs, catering to the increasing demand for industrial space in the region.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1919 Northwest 19th Street
- Market: Fort Lauderdale
- Asset Size: 83,793 square feet
- Landlord: Longpoint Realty Partners
- Tenant: Halpern’s Steak and Seafood
- Landlord's Representative: Daniel Forman, Jonathan Thiel, Keith Graves & Lawrence Oxenberg - Berger Commercial Realty /Corfac International
- Tenant's Representative: Tim Kilkelly - Foundry Commercial
The lease renewal and expansion were managed by Berger Commercial Realty/Corfac International, representing Longpoint Realty Partners. Tim Kilkelly of Foundry Commercial represented the tenant, Halpern’s Steak and Seafood, in this transaction, showcasing the collaborative efforts of the brokerage teams in securing the lease agreement.
Players
Fort Lauderdale 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