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100 SE 3rd Ave, Fort Lauder...

Convey Health Solutions Leases 33360 SF Office At One Financial Plaza In Fort Lauderdale
LEASEDOffice

Convey Health Solutions Leases 33360 SF Office At One Financial Plaza In Fort Lauderdale

100 SE 3rd Ave, Fort Lauderdale, FL...

Building Size

33,360 SF

Asset Type

Office

Closing

Oct 18, 2017

AI

The lease transaction involved the property located at 100 SE 3rd Ave, Fort Lauderdale, FL. The asset is an office space within the 263,250-square-foot One Financial Plaza. Convey Health Solutions leased a total of 33,360 square feet within the recently renovated 28-story tower. The building is owned by Walton Street Capital, which acquired it for $86.75 million in February. The deal was brokered by various representatives, including Ryan Nunes from JLL who represented Convey Health Solutions, and Laurel Oswald, Jon Blunk, Cristina Glaria, and Van Watson from Tower Commercial Real Estate who represented the owners, Crocker Partners, and Walton Street Capital.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant: Convey Health Solutions
  • Square Feet: 33,360
  • Market: Fort Lauderdale
  • Tenant's Rep: Ryan Nunes(JLL)
  • Landlord's Rep: Van Watson(Keller Williams)
  • Landlord: Walton Street Capital

Convey Health Solutions, the tenant in this lease agreement, is expanding its occupied space within the One Financial Plaza significantly. Ryan Nunes of JLL played a crucial role as the tenant's representative in negotiating this long-term lease, enabling Convey Health Solutions to triple its current space within the tower. With Convey Health Solutions taking up three floors within the building, One Financial Plaza now stands at a 93 percent occupancy rate, reflecting the continued demand for commercial office spaces in the Fort Lauderdale market.

Players

Ryan Nunes

JLL

Broker

4 deals

Broker
Walton Street Capital
Walton Street CapitalLender
Walton Street Capital
Walton Street CapitalLandlord

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