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2201 W Broward BLVD, Fort L...

ShipMonk Leases 170,477 SF At Bridge Point Riverbend In Fort Lauderdale
LEASEDIndustrial

ShipMonk Leases 170,477 SF At Bridge Point Riverbend In Fort Lauderdale

2201 W Broward BLVD, Fort Lauderdal...

Building Size

170,477 SF

Asset Type

Industrial

Closing

Dec 17, 2018

AI

The industrial property at 2201 W Broward BLVD in Fort Lauderdale spans 170,477 square feet and served as the new headquarters for ShipMonk, a logistics company for e-commerce businesses. ShipMonk recently relocated from Deerfield Beach to Bridge Point Riverbend, occupying a portion of the newly completed 221,542-square-foot building starting next year. The facility offers features such as 32-foot clear heights, rear-dock loading, ESFR sprinkler systems, and a 1.4/1,000 parking ratio.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 2201 W Broward BLVD, Fort Lauderdale
  • Market: Fort Lauderdale
  • Landlord: Elion Partners
  • Landlord's Rep: Steven Wasserman (Colliers International)

ShipMonk's lease transaction was facilitated with the representation of Tony Hoover from CBRE as the tenant's representative. On the other side of the deal, Steven Wasserman from Colliers International served as the landlord's representative for Elion Partners, which was part of a joint venture alongside Bridge Development Partners, Akard Street Partners LP, and Banner Oak Capital Partners LP. ShipMonk, originally established in 2014 by Jan Bednar, plans to expand its operations significantly, doubling its current workforce and intending to open a new office in New York City.

Players

Steven Wasserman

Colliers

Broker

$76.6M

vol

6 deals

Broker
Elion Partners
Elion PartnersBrokerage
Elion Partners
Elion PartnersLandlord

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