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5607 Hiatus Rd, Fort Lauder...

Avison Young Represents Sonny's Enterprises In 66,270 SF Industrial Lease In Tamarac
LEASEDIndustrial

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

Thomas Viscount

Savills

Broker

$14.2M

vol

8 deals

Broker

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