Prestige Developments Leases Industrial Space To Multiple Tenants At 7265 NW 74th St For $2.4M

The property involved in the transaction is located at 7265 NW 74th St, Units 4, 5, 6 & 7, Medley, FL 33166. This industrial asset spans a total of 21,370 square feet and was leased under a NNN lease agreement. The gross lease value is reported at $2.4 million, with an asking rent of $22 per square foot over a lease term of 5 years.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $2.4 million
• Address: 7265 NW 74th St, Units 4, 5, 6 & 7
• Market: Medley
• Landlord: Prestige Developments
• Tenant: 4 Units, Multiple Tenants
• Broker: Viacheslav Vlasov - Colfax Realty Official
• Asking Rent: $22/ft
• Lease Term: 5 Years
• Lease Type: NNN Lease

Viacheslav Vlasov from Colfax Realty represented the leasing of the industrial property, highlighting the involvement of multiple tenants securing their respective units within the overall transaction framework. The deal emphasizes the collaboration between the landlord and the broker in successfully finalizing the lease agreement.