Colliers International Secures Long-Term Lease For Heritage Flooring In Fort Pierce
3800 Crossroads Parkway
Building Size
30,890 SF
Asset Type
Industrial
Closing
May 14, 2024
AI
The Class A distribution warehouse located at 3800 Crossroads Parkway in Fort Pierce, FL, spans 30,890 square feet, featuring 32' clear heights and over 60 dock-high loading bays. Situated in the Interstate Commerce Center, the property offers excellent visibility from I-95, catering to mid-sized tenants seeking a prime industrial space.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Jacob Khotoveli - JBL Asset Management; Daniel Gohari - Avenue Property Group
- Tenant: Heritage Flooring
- Brokers: Jonathan Temple & Michael Falk - Colliers International
Colliers South Florida played a crucial role in securing a long-term lease for Heritage Flooring at the Interstate Commerce Center. This deal not only fills up a significant portion of the distribution warehouse but also highlights the expertise of Jonathan Temple and Michael Falk in facilitating deals for industrial spaces in Fort Pierce, FL.
Players
Fort Pierce 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