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1951 N Commerce Pkwy Weston...

Logistics Company Leases Entire Industrial Building At Weston Commerce Park In Weston, FL
LEASEDIndustrial

Logistics Company Leases Entire Industrial Building At Weston Commerce Park In Weston, FL

1951 N Commerce Pkwy Weston, FL 33326, USA

$26

$26/SF

Building Size

134,400 SF

Asset Type

Industrial

Closing

May 11, 2023

AI

Logistics company Specialized Freight Carriers has leased the entire 134,400-square-foot building at Weston Commerce Park in Weston, a suburb of Fort Lauderdale. The property is located at 1951 N Commerce Pkwy, Weston, FL 33326, USA. The lease was signed on May 11, 2023, and the market for this asset is industrial. The prime location of the property offers quick access to Interstate 75, executive housing, and a large labor pool. Despite a slight cooling in the market, the rental rates are still on the rise, making it a desirable industrial market in Broward County.

Summary of transaction details:

  • Property Type: Industrial
  • Address: 1951 N Commerce Pkwy, Weston, FL 33326, USA
  • Lease Date: May 11, 2023
  • Tenant: Specialized Freight Carriers

The tenant, Specialized Freight Carriers, has leased the entire building for their logistics operations. No information is provided about the landlord, the landlord's representative, tenant's representative, or the brokers involved in the deal.

Players

Christopher Metzger

Cushman & Wakefield

Broker

$160.4M

vol

25 deals

Broker

Miami 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

610115.38%

Cash-on-Cash

-174372.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93