BroadRange Logistics Leases 350,899 SF Industrial Space At Ocala Logistics Center In Florida
2796 Northwest 35th Street
Building Size
350,899 SF
Asset Type
Industrial
Closing
Dec 20, 2023
AI
BroadRange Logistics has leased the entire 350,899-square-foot Ocala Logistics Center in Florida. The property, located at 2796 Northwest 35th Street, is an industrial asset in the Ocala market. This strategic location offers proximity to major transportation hubs, making it an ideal choice for BroadRange Logistics' need for 3PL warehouse facilities. The lease agreement was signed on December 20, 2023.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Address: 2796 Northwest 35th Street
- Market: Ocala
- Size: 350,899 square feet
The landlord for the property is MDH Partners, represented by Kate Kilgore. The tenant, BroadRange Logistics, was represented by Ari Milstein. Clay Witherspoon from Avison Young acted as the landlord's representative in the deal, while John Gosnell from Strategic Real Estate Partners represented BroadRange Logistics. This lease agreement fulfills MDH Partners' goal of full occupancy for the Ocala Logistics Center.
Players
Ocala 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