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5303 126th Avenue North

Gt Express Enterprises & White Cap Lease Combined 47,000& SF At Sunshine Industrial Park In Clearwater
LEASEDIndustrial

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.

Players

Benjamin Atkins

Zenith Industrial Outdoor Storage

Landlord

$211.8M

vol

8 deals

Landlord

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