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1919 Northwest 19th Street

Longpoint Realty Partners Leases 83,793 Square Feet To Halpern’s Steak And Seafood In Fort Lauderdale
LEASEDIndustrial

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:

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

Jonathan Thiel

Berger Commercial Realty

Broker

$20.9M

vol

12 deals

Broker

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