Overview
Upon lease execution, the Property underwent a $12 million overhaul, which included a new roof with a 20-year warranty, full-building insulation and HVAC system, smoothed and polished concrete slab, upgraded LED lighting, exterior enhancements, parking lot repairs, and landscaping. Additionally, the building is fully air-conditioned and features heavy power capacity with 4,500 amps. Income diversity is provided via a stealth telecommunications tower located adjacent to the eastern loading area, providing the Property an additional secure income stream of $23,559 annually. At current the Property has two dock high loading positions at the eastern end of the structure and one oversized grade level door which is utilized for customer pick-up at the buildings southeastern corner.
Investment Highlights
- Has 7.5 years of remaining initial lease term with four, five-year options to extend at Fair Market Value.
- Fully climate controlled and insulated facility ensures Floor & Decor’s products are stored safely and ensuring a pleasant customer experience.
- With a 1.5/1,000 SF parking ratio, the Property offers ample parking for customers.
- The Property is located within Coral Springs Commerce Park, a 442-acre business and industrial park which is home to notable tenants such as Amazon, Pepsico, CTS Engines, and Ferguson.
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