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3450 Executive Way

Updated May 12, 2025

Caterpillar And Nissan North America Renew Long-Term Leases Totaling 61,000 SF In Miramar
LEASEDIndustrial

Caterpillar And Nissan North America Renew Long-Term Leases Totaling 61,000 SF In Miramar

3450 Executive Way & 3201 Executive Way

Building Size

61,000 SF

Asset Type

Industrial

Closing

May 8, 2025

About this deal

AI

The property involved in this transaction is an industrial asset located at 3450 Executive Way and 3201 Executive Way, situated in the Miramar market. The total square footage of the asset is 61,000, with long-term leases renewed by Caterpillar for 45,000 square feet and Nissan North America for 16,000 square feet within the Miramar Park of Commerce.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 3450 Executive Way & 3201 Executive Way
  • Market: Miramar
  • Asset Square Footage: 61,000
  • Landlord: Andrew Ansin - Sunbeam Properties & Development
  • Tenant: Jim Umpleby & Joe Creed - Caterpillar®; Christian Meunier - Nissan North America, Inc.
  • Landlord's Representative: Peter Apol - Sunbeam Properties
  • Tenant's Representatives: Nick Wigoda & Steve Medwin - Newmark; Tom O'Loughlin - CBRE

This deal involves significant representations by the respective agents handling the landlord and tenants' interests. Caterpillar has committed to a substantial space within the business park, while Nissan North America also secures a notable portion. Both tenants are represented by brokers from established firms, showcasing the expertise involved in this leasing transaction.

On the Map

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Industrial

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Players

Tom O'Loughlin

CBRE

Broker

$852.6M

vol

62 deals

Broker
Sunbeam Properties & Development
Sunbeam Properties & DevelopmentLandlord
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Miramar 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

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