TH Real Estate Leases Industrial Space In Seneca Industrial Park, Pembroke Park
2500 SW 32nd Ave, Fort Lauderdale, F...
Building Size
25,476 SF
Asset Type
Industrial
Closing
Aug 24, 2018
AI
The industrial property at 2500 SW 32nd Ave, Fort Lauderdale, Florida, is part of Seneca Industrial Park, offering a total of 885,000 square feet of Class A distribution and warehouse space. The tenant, Colony Hardware, has leased 25,476 square feet in this convenient location, providing easy access to major transportation routes and close proximity to key metropolitan areas.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord's Rep: Walter Byrd(Transwestern)
- Tenant: Colony Hardware
- Landlord: TH Real Estate
- Square Feet: 25,476
- Market: Fort Lauderdale
Other key players in this lease transaction include HD Supply, occupying the largest space at 46,498 square feet, represented by Colliers International Vice President Erin Byers. Additionally, Chefs' Warehouse and Smart Van Lines renewed their lease agreements, while Avison Young's Wayne Schuchts and Bobby Benton facilitated Colony Hardware's new lease at Seneca Industrial Park. The negotiations were handled by a team from Transwestern, led by Managing Director Thomas Kresse and Senior Managing Directors Ben Eisenberg and Walter Byrd.
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