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:
- Property Type: Industrial Lease
- Transaction Amount: Not Specified
- Address: 4520 Coral Ridge Drive, Coral Springs, FL
- Market: Pompano Beach
- Landlord: Exeter Property Group
- Tenant: Aldora Aluminum & Glass Products
- Landlord's Representatives: Christopher "Chris" Metzger-Cushman & Wakefield, Christopher Thomson-Cushman & Wakefield
- Tenant's Representative: MJ Ridenour-Coldwell Banker Commercial NRT
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
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