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201 E Las Olas BLVD, Fort L...

Updated Oct 29, 2024

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

About this deal

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.

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Players

Kevin Probel

JLL

Broker

$90.2M

vol

12 deals

Broker
CBRE
CBREBrokerage
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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

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