Propulsion Technologies International Leases Office Space In Miramar From Heitman
15301 SW 29th St, Hollywood, FL, 330...
Building Size
124,280 SF
Asset Type
Office
Closing
Feb 25, 2019
About this deal
AI
The lease transaction involved an office property located at 15301 Southwest 29th Street in Hollywood, FL. The asset, situated in Miramar, spans 124,280 square feet and is part of the Miramar Centre Business Park.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Landlord: Heitman
- Tenant: Propulsion Technologies International
- Square Feet: 124,280
- Address: 15301 SW 29th St, Hollywood, FL, 330...
- Market: Miramar
- Landlord's Rep: Larry Dinner(CBRE)
Propulsion Technologies International, an aircraft maintenance company, renewed its lease for the entire Building D within the facility. Owned by a joint venture between GE Aviation and Safran, Propulsion will continue to operate in the space, benefiting from 24-foot clear heights and 26 docks at the location.
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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