Gt Express Enterprises & White Cap Lease Combined 47,000& SF At Sunshine Industrial Park In Clearwater
5303 126th Avenue North
Building Size
46,940 SF
Asset Type
Industrial
Closing
Oct 16, 2023
AI
Gt Express Enterprises and White Cap have leased a combined 47,000+ square feet at Sunshine Industrial Park in Clearwater. The industrial property, located at 5303 126th Avenue North, offers 46,940 square feet of space. The lease transaction, facilitated by Zenith Industrial Outdoor Storage's representative Ben Atkins, represents a strategic move for both tenants.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 46,940
- Market: Clearwater
- Address: 5303 126th Avenue North
Gt Express Enterprises, led by George Turcanu, has made the decision to streamline its operations by relocating to the Sunshine Industrial Park by the end of 2023. This move will enable the company to optimize its processes and enhance efficiency.
Meanwhile, White Cap, represented by John A. Stegeman, will be relocating early next year to the same industrial park. The new location will provide better transportation access, offering strategic benefits for the company's operations.
Clearwater 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