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735 Airport Road

Coastal Suburban Supply & Distribution Signs Long-Term Lease For 41000 SF Industrial Facility In Lakewood
LEASEDIndustrial

Coastal Suburban Supply & Distribution Signs Long-Term Lease For 41000 SF Industrial Facility In Lakewood

735 Airport Road

Building Size

41,000 SF

Asset Type

Industrial

Closing

Feb 11, 2025

AI

The industrial asset located at 735 Airport Road in Lakewood encompasses a total square footage of 41,000. This facility includes a two-story mezzanine and outdoor storage, catering to the operational needs of its tenant.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Lease Term: Long-term
  • Tenant: Carl Del Pizzo - Coastal Suburban Supply & Distribution
  • Broker: Doug Twyman - Colliers

Doug Twyman from Colliers acted as the broker for the lease agreement, facilitating the arrangement for Coastal Suburban Supply & Distribution as they expand within a competitive industrial market.

Players

Doug Twyman

Colliers

Broker

2 deals

Broker

Lakewood Industrial Market Snapshot

Boundary boundary · Industrial · 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