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6451 North Federal Highway

MSC Cruises USA Expands Office Space With 33,827 SF Lease At BayView Corporate Tower In Fort Lauderdale
LEASEDOffice

MSC Cruises USA Expands Office Space With 33,827 SF Lease At BayView Corporate Tower In Fort Lauderdale

6451 North Federal Highway

Building Size

33,827 SF

Asset Type

Office

Closing

Apr 24, 2025

AI

The property asset involved in the transaction is an office space located at 6451 North Federal Highway, Fort Lauderdale, with a total square footage of 33,827. The asset is part of the BayView Corporate Tower and serves the Fort Lauderdale market.

Summary of transaction details:

The lease transaction marks a significant move for MSC Cruises USA, as the company nearly doubles its office space in this relocation from its previous address at 6750 N. Andrews Ave. The new office will accommodate various teams, including finance, sales, IT, and HR, and it is noted to be the largest lease in the Cypress Creek submarket over the past year.

Players

Chase Kulp

Cushman & Wakefield

Broker

$15.7M

vol

3 deals

Broker

Fort Lauderdale 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