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
About this deal
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.
On the Map
$22
$22/SF
Office
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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