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600 Village Blvd #580, West...

Palm Beach Business Center GP Acquires Office Building On Village Blvd In West Palm Beach For $13.7M
SOLDOffice

Palm Beach Business Center GP Acquires Office Building On Village Blvd In West Palm Beach For $13.7M

600 Village Blvd #580, West Palm Beach, Fl 33409, Usa

$13,700,000

$19/SF

Building Size

699,540 SF

Asset Type

Office

Closing

Jun 9, 2020

AI

The office property located at 580 and 600 Village Blvd in West Palm Beach has been sold for a total of $13,700,000. The property spans across 69,954 square feet, making the price per square foot approximately $195. The buyer of the property is Palm Beach Business Center GP, while the sellers are KAS Brandywine LLC and KAS Hags CUP LLC. The transaction was facilitated by brokers Greg Miller, Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Mike Ciadella, and John DeMarco.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13,700,000
  • Address: 580, 600 Village Blvd
  • Market: West Palm Beach
  • Square Footage: 69,954
  • Price per Square Foot: $195
  • Buyer: Palm Beach Business Center GP
  • Seller: KAS Brandywine LLC & KAS Hags CUP LLC
  • Brokers: Greg Miller, Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Mike Ciadella, John DeMarco

This transaction involves notable individuals and companies. The buyer, Palm Beach Business Center GP, played a key role in acquiring the office property. On the other hand, KAS Brandywine LLC and KAS Hags CUP LLC acted as sellers. The deal was facilitated by brokers Greg Miller, Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Mike Ciadella, and John DeMarco.

Players

Miguel Alcivar

Cushman & Wakefield

Broker

$965.1M

vol

39 deals

Broker
KL
KAS Hags CUP LLCSeller

West Palm Beach Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.16%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93