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
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 9695 Northwest 174th Street
- Market: Miami
- Landlord: Butters Construction & Development - Malcolm Butters; Greystar
- Tenant: GLB Trucking
- Landlord's Rep: George Pino & Frank Trelles - State Street Realty; JC Conte & Brian Ahearn - Butters
- Tenant's Rep: Peter Messina - SVN Commercial Realty
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
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