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
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