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1475 W Cypress Creek Rd, Fo...

PreGel Leases 15,600-Square-Foot Space In Fort Wayne Office Complex
LEASEDOffice

PreGel Leases 15,600-Square-Foot Space In Fort Wayne Office Complex

1475 W Cypress Creek Rd, Fort Laude...

Building Size

15,600 SF

Asset Type

Office

Closing

Aug 6, 2018

AI

The property involved in the transaction is located at 1475 W Cypress Creek Rd, Fort Lauderdale, in the Fort Wayne market. The asset comprises 15,600 square feet of office space and is associated with The Midgard Group as the landlord.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1475 W Cypress Creek Rd, Fort Lauderdale
  • Market: Fort Wayne
  • Landlord: The Midgard Group
  • Landlord's Representative: Ronald A. Schagrin, Sal Bonsignore - Colliers International
  • Square Feet: 15,600

This lease transaction includes Early Learning Coalition of Broward County as the new tenant, occupying the office space at 1475 West Cypress Creek Road. The property also hosts other tenants, including Brown & Brown Insurance and Parkson Corporation, which signed long-term renewals.

Players

Sal Bonsignore

Colliers

Broker

$62M

vol

5 deals

Broker

Fort Wayne 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