Coral Springs Business Warehouse

Location: Coral Springs, FL
Type: Industrial
Price: $5,860,000

SMC has provided a $5,860,000 ten-year fixed rate mortgage to finance the acquisition of Coral Springs Business Warehouse, a 97% occupied, 85,850 SF multi-tenant light industrial building located in Coral Springs, Florida. The Property features 14’ clear heights, 131 drive-in doors, and surface parking with a parking ratio of 1.83/1,000 SF. Due to the Property’s diverse bay sizes, it is uniquely positioned in the marketplace as it appeals to both small businesses seeking value-office and storage uses. The Property benefits from excellent accessibility given its proximity to major regional freeways and commercial corridors: a half-mile from Sample Road (traffic count of more than 28,000 vehicles per day) and the Sawgrass Expressway (which connects to I-75), and within 3 miles of University Drive (traffic count of more than 37,000 vehicles per day). The Subject is situated in an infill location with a population of 87,802 persons within a 3-mile radius.