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3800 Crossroads Parkway

Colliers International Secures Long-Term Lease For Heritage Flooring In Fort Pierce
LEASEDIndustrial

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:

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

Michael Falk

Colliers

Broker

$89.5M

vol

11 deals

Broker

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