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
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