Broad And Cassel LLP Renews 15,276-Square-Foot Office Lease In Fort Lauderdale
100 SE 3rd Ave, Fort Lauderdale, FL...
Building Size
15,276 SF
Asset Type
Office
Closing
Dec 18, 2017
About this deal
AI
The property involved in the transaction is the 263,250-square-foot One Financial Plaza located at 100 Southeast Third Avenue in Fort Lauderdale, FL. The office tower, owned by Crocker Partners and Walton Street Capital, was recently renovated. Convey Health Solutions signed a lease for 33,360 square feet, occupying three floors within the 28-story building. Other recent deals at the plaza include renewals by Broad & Cassel, RJ Reynolds, Insperity HR Solutions, and AXA Equitable Insurance.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant: Convey Health Solutions
- Tenant's Rep: Richard Linevsky (NAI Capital)
- Landlord: Walton Street Capital
- Square Feet: 15276
- Market: Fort Lauderdale
Among the key individuals and companies involved in the deal, Tower Commercial Real Estate's Laurel Oswald, Jon Blunk, Cristina Glaria, and Van Watson represented the owners of One Financial Plaza, Crocker Partners, and Walton Street Capital. JLL's Ryan Nunes acted as the representative for Convey Health Solutions in the lease agreement, facilitating the tripling of the company's current space. Additionally, Richard Linevsky of NAI Miami represented Broad & Cassel in their lease renewal at the office tower.
Players
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