Updated Dec 4, 2024
Woodmont Industrial & Butters Realty Fully Lease Lake Worth Industrial Property
1939 7th Avenue North
Building Size
75,989 SF
Asset Type
Industrial
Closing
Mar 4, 2024
About this deal
AI
The 7th Avenue Logistics center in Lake Worth, spanning 75,989 square feet, was fully leased by Woodmont Industrial Partners and Butters Construction & Development. The tenants at this industrial property include Foundation Building Materials, Storm Smart, and 3 Brothers of Palm Beach, showcasing the strong demand for industrial space in Palm Beach County.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 1939 7th Avenue North
- Market: Lake Worth Beach
Paul Shooster and Thomas Hotz from Butters Realty & Management facilitated the lease deal between Woodmont Industrial Partners, Butters Construction & Development, and the tenants at the 7th Avenue Logistics center. Woodmont and Butters have established a successful partnership, collaborating on various development projects throughout South Florida and beyond.
Players
Lake Worth 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