facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Industrial

/

Lease

/

4520 Coral Ridge Dr, Coral ...

Aldora Aluminum & Glass Products Signs Lease For 105642 Square Feet At 4520 Coral Ridge Dr
LEASEDIndustrial

Aldora Aluminum & Glass Products Signs Lease For 105642 Square Feet At 4520 Coral Ridge Dr

4520 Coral Ridge Dr, Coral Springs, F...

Building Size

105,642 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property involved in this transaction is a 105,642-square-foot industrial facility located at 4520 Coral Ridge Drive in Coral Springs, positioned within the Pompano Beach market. The landlord for this lease is Exeter Property Group, which is currently undertaking renovations to modernize the facility, previously known as the Alliance Building. This facility will be part of a larger development known as Coral Springs Commerce Center II, which encompasses a total of 567,846 square feet across four buildings.

Summary of transaction details:

The lease was negotiated by Richard Etner Jr., Chris Metzger, Christopher Thomson, and Matthew McAllister, all of whom are associated with Cushman & Wakefield, representing the building owner Exeter Property Group. Aldora Aluminum & Glass Products, which currently operates out of Miramar, is set to relocate to this new facility by summer 2019, allowing for the expansion of their manufacturing operations, including the production of hurricane-resistant aluminum storefronts and entry systems.

Players

Richard Etner Jr

Cushman & Wakefield

Broker

$171.9M

vol

18 deals

Broker
Keller Williams Realty
Keller Williams RealtyBrokerage
Exeter Property Group
Exeter Property GroupLandlord

Pompano Beach Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

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