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1010 S Federal Hwy, Halland...

Crystal Cruises Leases 15206 Square Feet At 1010 S Federal Hwy In Hallandale Beach
LEASEDOffice

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:

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

Juan Ruiz

Blanca Commercial Real Estate

Broker

9 deals

Broker

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