PPG Development Acquires 1.4-Acre Development Site In Hallandale Beach For $14M
1800 East Hallandale Beach Boulevard, 1830 East Hallandale Beach Boulevard & 1800 Layne Boulevard
$14,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 27, 2023
AI
An approximately 1.4-acre development site located at 1800, 1830 Hallandale Beach Boulevard & 1800 Layne Boulevard in Hallandale Beach has been recently sold for a price of $14,000,000. The buyer, PPG Development, led by Ari Pearl, acquired the property from Michael Klinger of Saber Real Estate.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Address: 1800, 1830 Hallandale Beach Boulevard & 1800 Layne Boulevard
- Market: Hallandale Beach
- Buyer: PPG Development - Ari Pearl
- Seller: Michael Klinger - Saber Real Estate
PPG Development, a local company, has decided to move its headquarters within Hallandale Beach and has chosen this 1.4-acre development site as the location for their new headquarters. The specifics of the project, such as the design and the potential rental or sale of extra spaces, are yet to be determined.
Players
Hallandale Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93