Updated Jun 9, 2026
FINANCEDIndustrial
Ruben Pedron Of SouthState Bank Provides $15,566,000 Refinance Loan For Industrial Property In Pompano Beach
1698 North Andrews Avenue
$26,100,000
$306/SF
Building Size
85,187 SF
Asset Type
Industrial
Closing
May 19, 2026
About this deal
AI
The property asset involved in this transaction is an industrial space located at 1698 North Andrews Avenue in Pompano Beach, encompassing a total square footage of 85,187. The transaction was a refinance amounting to $15,566,000.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $15,566,000
- Lender: Ruben Pedron - SouthState Bank
- Landlord: Evan Butters & Malcolm Butters - Butters Group
- Brokers: Bob Dockerty, Scott Wadler, Mitch Sinberg & Nicholas Horowitz - Berkadia
- Market: Pompano Beach
Key individuals involved in this transaction include the landlords, Evan Butters and Malcolm Butters, representing Butters Group. The brokerage team comprising Bob Dockerty, Scott Wadler, Mitch Sinberg, and Nicholas Horowitz from Berkadia facilitated the deal.
On the Map
$26,100,000
$306/SF
Industrial
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Players
Southstate BankLender
Butters GroupLandlord
Pompano Beach Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93