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1700 Palm Beach Lakes Boule...

Morgan & Morgan Leases Office Space In West Palm Beach For Long-Term
LEASEDOffice

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

Anthony Librizzi

Cushman & Wakefield

Broker

$15M

vol

7 deals

Broker
CG
Capstone Realty GroupLandlord

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