EverWest Real Estate Investors Leases 249,700-Square-Foot Warehouse To All Glass Production In Pembroke Pines
20351 Sheridan Street
Building Size
249,700 SF
Asset Type
Industrial
Closing
Oct 17, 2023
AI
EverWest Real Estate Investors has leased a 249,700-square-foot warehouse located at 20351 Sheridan Street in Pembroke Pines, Florida, to All Glass Production. The warehouse was originally owned by Vital Pharmaceuticals and was acquired by EverWest for $58 million in 2022. This spacious industrial property will serve as the manufacturing base for All Glass Production, a new glass manufacturing company.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 249,700
- Address: 20351 Sheridan Street, Pembroke Pines, Florida
- Market: Pembroke Pines
Cushman & Wakefield represented EverWest Real Estate Investors in this transaction, with Christopher Metzger, Christopher Thomson, Matthew McAllister, and Rick Etner acting as the landlord's representatives. America’s Commercial Real Estate was the tenant's representative, with Alexander Bernaldo assisting All Glass Production in securing the lease.
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