Crown Castle USA Leases 6035 Southern Blvd West Palm Beach Industrial Property
6035 Southern BLVD, West Palm Beac...
Building Size
51,840 SF
Asset Type
Industrial
Closing
Aug 28, 2018
AI
The property involved in this transaction is located at 6035 Southern Boulevard in West Palm Beach, within the Ambler market. It features an industrial asset type and comprises a total area of 51,840 square feet. The lease is part of Liberty Airport Center, a 70-acre master-planned park, and has achieved full occupancy following this latest deal.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 6035 Southern Boulevard, West Palm Beach
- Landlord: Liberty Property Trust
- Landlord's Representative: Peter Sheridan - JLL
- Tenant: Crown Castle USA
- Tenant's Representative: Bob Schneiderman - Colliers International
- Square Feet: 51,840
The lease agreement marks a significant step in the ongoing development at Liberty Airport Center, a project currently under construction, consisting of a total of 660,740 square feet. Liberty Property Trust, the developer, intends to complete the construction of the remaining three buildings within the next three years.
Players
Ambler 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