The United States Postal Service Leases 136,000 SF Industrial Building In Pompano Beach
3150 Northwest 33rd Street
Building Size
136,000 SF
Asset Type
Industrial
Closing
Feb 9, 2024
AI
The United States Postal Service (USPS) has leased a 136,000-square-foot industrial building located at 3150 Northwest 33rd Street in Pompano Beach. The property, originally planned for Amazon, is part of the Rock Lake Business Center. The facility, now known as the Pompano Beach Sorting and Delivery Center, will be used to streamline letter carrier operations for five Broward County post offices. This lease reflects the changing dynamics in the industrial market, driven by supply chain issues and e-commerce growth in South Florida.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 136,000 SF
- Address: 3150 Northwest 33rd Street, Pompano Beach
- Market: Pompano Beach
The landlord of this property is Mark Saturno, who represents IDI Logistics. The tenant is Louis DeJoy, who represents The United States Postal Service (USPS). The lease agreement between the landlord and tenant signifies the USPS's commitment to optimizing their operations in Broward County, in response to the evolving industrial market and the growing demand for efficient delivery services.
Players
Pompano Beach 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