HotelPlanner.com Leases 11800 Square Feet Office Space In Palm Beach Gardens From WFMHC Golden Bear Owner LLC
11780 Us Route 1
Building Size
11,800 SF
Asset Type
Office
Closing
Apr 1, 2025
AI
The property involved in this transaction is an office asset located at 11760, 11770 & 11780 US Highway 1 in Palm Beach Gardens, comprising a total square footage of 11,800. The lease marks a significant relocation for HotelPlanner.com from its previous 15,000-square-foot space in downtown West Palm Beach.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 11,800
- Address: 11760, 11770 & 11780 US Highway 1
- Market: Palm Beach Gardens
- Landlord: WFMHC Golden Bear Owner LLC
- Tenant: Tim Hentschel & John Prince - HotelPlanner.com
- Broker: Jason Sundook - NAI Merin Hunter Codman
The key individuals involved in this deal include Tim Hentschel and John Prince, representing the tenant HotelPlanner.com. Jason Sundook acted as the broker for the landlord, WFMHC Golden Bear Owner LLC, highlighting factors such as lower lease rates and enhanced amenities that contributed to the lease decision.
Players
North Palm Beach 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