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7201 15th Street East Saras...

Sarasota Opera Leases Industrial Space At SRQ Distribution Campus In Florida
LEASEDIndustrial

Sarasota Opera Leases Industrial Space At SRQ Distribution Campus In Florida

7201 15th Street East Sarasota, Florida 34243, USA

Building Size

19,000 SF

Asset Type

Industrial

Closing

Aug 18, 2023

AI

The Sarasota Opera has leased a space at the redeveloped SRQ Distribution Campus in Florida. The leased property, located at 7201 15th Street East in Sarasota, offers a total of 19,000 square feet, including 1,500 square feet of office space and 17,500 square feet of warehouse storage. The facility is equipped with air-conditioning, loading docks, and a 26-foot clear-height for vertical storage.

Summary of transaction details:

The Sarasota Opera's lease at the SRQ Distribution Campus was facilitated by John Harshman of Harshman & Company, who represented the tenant. Melissa Harris and Steve Horn, from Ian Black Real Estate, acted as the landlord's representatives in the deal. This transaction allows the opera company to utilize the newly developed space to accommodate its operations and storage needs.

Players

Steve Horn

Ian Black Real Estate

Broker

$7M

vol

2 deals

Broker

Sarasota 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