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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 333 SW 12th Ave, Deerfield Beach, FL
- Market: Deerfield Beach
- Square Footage: 24,600 sq ft
- Landlord: Sun Sentinel
- Tenant: TrueCoverage
- Brokers: Keith Graves & Lawrence Oxenberg - Berger Commercial Realty/Corfac International
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
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