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3150 Northwest 33rd Street

The United States Postal Service Leases 136,000 SF Industrial Building In Pompano Beach
LEASEDIndustrial

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