Avison Young Represents Sonny's Enterprises In 66,270 SF Industrial Lease In Tamarac
5607 Hiatus Rd, Fort Lauderdale, FL...
Building Size
66,270 SF
Asset Type
Industrial
Closing
Apr 4, 2019
AI
The industrial property involved in the transaction is located at 5607 Hiatus Road in Tamarac, Florida. The asset comprises a total of 66,270 square feet and is part of the Westpoint Distribution Center in the Tamarac market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Tenant's Rep: Tom Viscount (Avison Young)
- Landlord: Unknown
- Square Feet: 66,270
Avison Young, with Principal Tom Viscount representing the tenants, facilitated industrial leases totaling 89,520 square feet in Broward County. Sonny’s Enterprises, a manufacturer and distributor of car wash equipment, has expanded its presence by committing to a long-term lease at the Westpoint Distribution Center. In addition to the newly signed lease, Sonny’s Enterprises also renewed a 10,000-square-foot space at the property. This expansion adds to their existing occupancy in the neighboring 5605 Hiatus Road building.
Players
Tamarac 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