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
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