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1 E Broward BLVD, Fort Laud...

Stok Kon And Braverman Lease 9285 Square Feet At 1 E Broward Blvd Fort Lauderdale
LEASEDOffice

Stok Kon And Braverman Lease 9285 Square Feet At 1 E Broward Blvd Fort Lauderdale

1 E Broward BLVD, Fort Lauderdale, F...

Building Size

9,285 SF

Asset Type

Office

Closing

Jun 13, 2022

AI

The property involved is located at 1 East Broward Boulevard, Fort Lauderdale, encompassing a 19-story building. The lease covers an area of 9,285 square feet. The property was part of a larger investment acquired by a joint venture in 2018 for $108.5 million, which included significant enhancements to the building's lobby, common areas, and security systems.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1 E Broward BLVD, Fort Lauderdale
  • Market: Fort Lauderdale
  • Square Feet: 9,285
  • Landlord: NAI Merin Hunter Codman
  • Landlord's Rep: Adam Starr (NAI Merin Hunter Codman)
  • Tenant: Stok Kon + Braverman
  • Managing Principal: Robert Stok

Neil Merin and Adam Starr represented the landlord in this transaction. The property includes amenities such as a gym with Peloton bikes, 24/7 security, on-site dining, and concierge services. The facility is linked to a garage via an elevated, air-conditioned pedestrian walkway, enhancing accessibility for tenants and visitors.

Players

Adam Starr

NAI Global

Broker

2 deals

Broker

Fort Lauderdale Office Market Snapshot

Boundary boundary · Office · 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