Crystal Cruises Leases 15206 Square Feet At 1010 S Federal Hwy In Hallandale Beach
1010 S Federal Hwy, Hallandale Beac...
Building Size
15,206 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
Crystal Cruises has entered into a lease agreement for a new office located at 1010 S Federal Hwy in Hallandale Beach. The office spans 15,206 square feet and is situated in the Optima Onyx Tower, which is a Class A property. This newly constructed 28-story building features various amenities, including solar panels and electric car chargers.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Address: 1010 S Federal Hwy, Hallandale Beach
- Market: Hallandale Beach
- Tenant: Crystal Cruises
- Landlord: Optima International North LLC
- Tenant's Representative: Keith Edelman & Scott Goldstein - CBRE
- Landlord's Representative: Juan Ruiz & Jack Davidson - Blanca Commercial Real Estate
- Square Feet: 15,206
- Lease Commencement: Fourth quarter 2023
CBRE's Scott Goldstein and Keith Edelman facilitated the lease negotiations for Crystal Cruises. The landlord, Optima International North LLC, was represented by Juan Ruiz and Jack Davidson. Crystal Cruises' CEO, Jack Anderson, indicated that the location was chosen to help meet operational goals and provide easy access for employees and visitors due to its proximity to the new Brightline station in Aventura. While the permanent office is being built out, Crystal Cruises will utilize temporary space within the Optima Campus.
Players
Hallandale Beach Office Market Snapshot
Boundary boundary · Office · 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