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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 7201 15th Street East, Sarasota
- Market: Sarasota
- Landlord: 7201 15th St LLC - Cary Hicks, Ken Pierce & Mark Levey
- Tenant: The Sarasota Opera
- Landlord's Representative: Melissa Harris & Steve Horn - Ian Black Real Estate
- Tenant's Representative: John Harshman - Harshman & Company
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
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