Blanca Commercial Real Estate Secures 56,100 SF Office Leases In Plantation For Multiple Tenants
1000 South Pine Island Road & 900 South Pine Island Road
Building Size
112,200 SF
Asset Type
Office
Closing
Nov 6, 2024
AI
The asset involved in this transaction is an office property located at 1000 South Pine Island Road & 900 South Pine Island Road in Plantation. The total square footage of the property is 56,100, accommodating various office tenants. The landlord for this property is Lincoln Property Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1000 South Pine Island Road & 900 South Pine Island Road
- Market: Plantation
- Landlord: Lincoln Property Company
- Tenants: Brookfield Corporation, NCS Pearson, Robert Slack, LLC, Jamestown, The Nassau Paradise Island Promotion Board, WeFi Technology Group, Atlas Renewable Energy USA, LLC & Osaic Wealth, Inc.
- Brokers: Danet Linares, Nicole Kaiser & Tere Blanca - Blanca Commercial Real Estate
Blanca Commercial Real Estate secured 56,100 SF in leases at Royal Palm Office Park, including renewals with Brookfield Corporation (35,000 SF), NCS Pearson (1,672 SF), Robert Slack, LLC (2,441 SF), and Jamestown (989 SF) at Royal Palm I. Additionally, they facilitated new leases with the Nassau Paradise Island Promotion Board (3,010 SF), WeFi Technology Group (2,554 SF), Atlas Renewable Energy USA (6,686 SF), and Osaic Wealth (3,748 SF) at Royal Palm II, following recent property upgrades that now leave only one floor available.
Players
Plantation 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