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333 Southwest 12th Avenue D...

TrueCoverage Subleases Office Space From Sun Sentinel In Deerfield Beach
LEASEDOffice

TrueCoverage Subleases Office Space From Sun Sentinel In Deerfield Beach

333 Southwest 12th Avenue Deerfield Beach, Florida 33442, USA

Building Size

24,600 SF

Asset Type

Office

Closing

Aug 28, 2023

AI

Insurance marketplace TrueCoverage has subleased 24,600 sq ft of office space at 333 SW 12th Ave in Deerfield Beach, Florida. The property, owned by Blackstone's Link Logistics, is a 380,000-sq-ft site that houses a printing plant and distribution center. The sublease was made possible by the South Florida Sun Sentinel, which occupies the property as its main tenant.

Summary of transaction details:

The sublease agreement between TrueCoverage and the South Florida Sun Sentinel represents a significant transaction in the Deerfield Beach office market. Keith Graves and Lawrence Oxenberg, representatives of Berger Commercial Realty/Corfac International, facilitated the deal on behalf of TrueCoverage. This arrangement allows TrueCoverage to establish a presence in Deerfield Beach and expands its operations within Florida's insurance industry.

Players

Keith Graves

Berger Commercial Realty

Broker

$44.2M

vol

18 deals

Broker

Deerfield 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