Updated Jan 2, 2025
HKG Duty Free Leases Industrial Space In Medley From First Industrial Realty Trust
9001 Northwest 87th Avenue, Medley, Florida 33172, United States
Building Size
66,000 SF
Asset Type
Industrial
Closing
Feb 24, 2022
About this deal
AI
First Industrial Realty Trust has leased an industrial property located at 9001 NW 87th Avenue in Medley. The property spans 66,000 square feet and was leased to HKG Duty Free. The deal was facilitated by broker Frank Trelles from State Street Realty. The asking rent for the property was $12.50 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: N/A
- Address: 9001 NW 87th Avenue
- Market: Medley
- Landlord: First Industrial Realty Trust
- Tenant: HKG Duty Free
- Broker: Frank Trelles - State Street Realty
- Asking Rent: $12.50 per square foot
- Square Footage: 66,000
The lease transaction for the industrial property at 9001 NW 87th Avenue in Medley was successfully executed with the assistance of Frank Trelles from State Street Realty. This deal represents the collaboration between the landlord, First Industrial Realty Trust, and the tenant, HKG Duty Free. The property boasts a size of 66,000 square feet and had an asking rent of $12.50 per square foot.
Players
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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