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9695 Northwest 174th St, Hi...

GLB Trucking Leases 52k SF At Miami Midway Park Developed By Butters Construction & Greystar
LEASEDIndustrial

GLB Trucking Leases 52k SF At Miami Midway Park Developed By Butters Construction & Greystar

9695 Northwest 174th St, Hialeah, Florida 33018, USA

Building Size

52,000 SF

Asset Type

Industrial

Closing

Jun 12, 2023

AI

Miami Midway Park, developed by Butters Construction & Development and Greystar, has added GLB Trucking as a tenant, taking up 52,000 square feet of space. The industrial project is set to be completed in November, with high demand and increased rental rates driving the South Florida industrial market.

Summary of transaction details

Miami Midway Park, developed by Butters Construction & Development and Greystar, has secured GLB Trucking as a tenant for their industrial project. The property, located at 9695 Northwest 174th Street in Miami, offers 52,000 square feet of space. The completion of the project is scheduled for November, and the South Florida industrial market is experiencing high demand and increased rental rates.

Players

Frank Trelles

Vivo Real Estate Group

Broker

$104.8M

vol

39 deals

Broker
State Street Realty
State Street RealtyBrokerage
Greystar
GreystarLender
Greystar
GreystarLandlord

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