Morgan & Morgan Leases Office Space In West Palm Beach For Long-Term
1700 Palm Beach Lakes Boulevard, West Palm Beach, Florida 33401, United States
$22
$22/SF
Building Size
9,648 SF
Asset Type
Office
Closing
Feb 17, 2022
AI
Office space located at 1700 Palm Beach Lakes Boulevard in West Palm Beach has been leased by Morgan & Morgan. The lease was facilitated by Kevin Shapiro of Chancellor Property Group, representing the tenant, and Anthony Librizzi & Tarra England of Cushman and Wakefield, representing the landlord, Capstone Realty Group. The long-term lease agreement was finalized on February 17, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 02/17/2022
- Address: 1700 Palm Beach Lakes Boulevard
- Market: West Palm Beach
- Landlord: Capstone Realty Group
- Tenant: Morgan & Morgan
- Asking Rent: $22.50 per square foot
- Area: 9,648 square feet
- Landlord's Representative: Anthony Librizzi & Tarra England - Cushman and Wakefield
- Tenant's Representative: Kevin Shapiro - Chancellor Property Group
The lease agreement for the office space was successfully negotiated, with Morgan & Morgan represented by Kevin Shapiro of Chancellor Property Group and the landlord, Capstone Realty Group, represented by Anthony Librizzi & Tarra England of Cushman and Wakefield.
Players
West 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
721045.45%
Cash-on-Cash
-206077.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93