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201 E Las Olas BLVD, Fort L...

Shutts & Bowen Signs Lease For 3670 Square Feet At 201 E Las Olas Blvd Fort Lauderdale
LEASEDOffice

Shutts & Bowen Signs Lease For 3670 Square Feet At 201 E Las Olas Blvd Fort Lauderdale

201 E Las Olas BLVD, Fort Lauderdale...

Building Size

3,670 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is located at 201 E Las Olas BLVD, Fort Lauderdale. It is part of a 1.4 million-square-foot mixed-use office, residential, and retail community featuring Class A offices. The specific lease is for 3,670 square feet of office space occupied by Shutts & Bowen. The property is situated in the Fort Lauderdale market and was developed by Shorenstein Properties LLC and Stiles.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 201 E Las Olas BLVD, Fort Lauderdale
  • Market: Fort Lauderdale
  • Tenant: Shutts & Bowen
  • Landlord: Stiles
  • Tenant's Representative: Kevin Probel (CBRE)
  • Square Feet: 3,670

Zach Wendelin and Kevin Probel of CBRE, Inc. represented Shutts & Bowen in this transaction. The Main Las Olas has now reached 100% lease occupancy, also including Zions Bank as a new tenant leasing 3,931 square feet. The property is characterized by its various amenities, including conference space and fitness center, appealing to corporations migrating to South Florida.

Players

Kevin Probel

JLL

Broker

$90.2M

vol

12 deals

Broker
CBRE
CBREBrokerage

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