CBRE's Kevin McCarthy Represents Tenant In Fort Lauderdale Office Lease Deal
201 E Las Olas BLVD, Fort Lauderdale...
Building Size
10,950 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The Main Las Olas in Fort Lauderdale, a 25-story Class A mixed-used building totaling 1.4 million square feet, has facilitated a 10,950-square-foot office lease for Shutts & Bowen LLP. The property, located at 201 E Las Olas Blvd, boasts a prime location in downtown Fort Lauderdale and offers amenities such as a conference center, tenant lounge, amenity deck, covered terrace, and state-of-the-art fitness center.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant's Rep: Kevin McCarthy (CBRE)
- Landlord: LOC3 Investors LLC
CBRE's Kevin McCarthy, along with Zach Wendelin and Kevin Probel, represented Shutts & Bowen LLP in the lease negotiations. The tenant, Shutts & Bowen LLP, will be relocating more than 30 employees to the 22nd floor of The Main Las Olas in early 2023. The move is part of the firm's strategy to enhance its office environment and continue to grow and thrive in Fort Lauderdale. Shutts & Bowen's Managing Partner, Joseph M. Goldstein, expressed excitement about the new office space and emphasized the belief in Fort Lauderdale's potential for growth.
Players
Fort Lauderdale 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