Equus Capital Partners Leases 75000 Square Feet To Dakota Premium Hardwoods In Punta Gorda
9450 Piper Rd, Punta Gorda, FL, 33982
Building Size
75,000 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in this transaction is a 75,000-square-foot industrial space located at 9450 Piper Road in Punta Gorda, Florida. This facility is situated within the Florida Gulf Coast Logistics Center, which encompasses a total of 378,000 square feet and is being developed in the Enterprise Charlotte Airport Park. The tenant for this space is Dakota Premium Hardwoods, a hardwood lumber and cabinet product supplier from Waco, Texas, who is set to utilize the warehouse and distribution area starting in September.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not specified
- Address: 9450 Piper Rd, Punta Gorda, FL, 33982
- Market: Punta Gorda
- Landlord: Equus Capital Partners, Ltd
- Tenant: Dakota Premium Hardwoods
- Landlord's Representative: Danny "Dan" Miller, Daniel Miller-Rubicon
- Tenant's Representative: Rian Smith - CBRE
- Square Feet: 75,000
In this transaction, Danny "Dan" Miller from Colliers represented the landlord, Equus Capital Partners, Ltd., while Rian Smith from CBRE represented the tenant, Dakota Premium Hardwoods. The lease agreement signifies Dakota Premium Hardwoods' move to establish a distribution base in the region.
Players
Punta Gorda 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