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9001 Northwest 87th Avenue,...

Updated Jan 2, 2025

HKG Duty Free Leases Industrial Space In Medley From First Industrial Realty Trust
LEASEDIndustrial

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

Frank Trelles

Vivo Real Estate Group

Broker

$104.8M

vol

41 deals

Broker
First Industrial Realty Trust
First Industrial Realty TrustBrokerage
First Industrial Realty Trust
First Industrial Realty TrustLandlord

Miami 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

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