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9950 NW 17th St, Miami, FL,...

Aeropost Inc Leases 106,300 SF Industrial Space In Doral From Crowley Maritime Corp
LEASEDIndustrial

Aeropost Inc Leases 106,300 SF Industrial Space In Doral From Crowley Maritime Corp

9950 NW 17th St, Miami, FL, 33172

Building Size

106,300 SF

Asset Type

Industrial

Closing

Aug 6, 2018

AI

The property asset involved in this transaction is located at 9950 NW 17th St, Miami, FL, 33172, in the Doral market. It is an industrial asset with a size of 106,300 square feet. The property is a distribution building that totals 148,750 square feet, with the landlord, Crowley Maritime Corp., continuing to occupy about 42,000 square feet following the transaction.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 9950 NW 17th St, Miami, FL, 33172
  • Market: Doral
  • Square Feet: 106,300
  • Tenant: Aeropost Inc
  • Landlord: Crowley Maritime Corp
  • Tenant's Representative: Nick Wigoda-Newmark, Steve Medwin-Newmark
  • Landlord's Representative: Walter Byrd-Transwestern

Aeropost Inc., a Latin American and Caribbean logistics and e-commerce company recently acquired by PriceSmart, has signed a sublease for this space. The deal is significant as Crowley Maritime Corp. is expanding its operations to Medley at the Flagler Station Phase II while maintaining a portion of the building for its activities.

Players

Nick Wigoda

Stream Realty Partners⁠

Broker

$200.2M

vol

21 deals

Broker

Doral 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