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3300 PGA Boulevard, Palm Be...

Ellrich, Neal, Smith & Stohlman Lease 10500 Sqft Office In Palm Beach Gardens
LEASEDOffice

Ellrich, Neal, Smith & Stohlman Lease 10500 Sqft Office In Palm Beach Gardens

3300 PGA Boulevard, Palm Beach Gar...

Building Size

10,500 SF

Asset Type

Office

Closing

Oct 6, 2022

AI

The property located at 3300 PGA Boulevard in Palm Beach Gardens, consisting of an office space measuring 10,500 square feet, was involved in a lease transaction. The tenant, Ellrich, Neal, Smith & Stohlman, engaged in the agreement with the landlord, ABS National Business Parks. Steve Paige from Reichel Realty & Investments represented the tenant, while Kevin McCarthy and Kevin Probel from CBRE acted as the landlord's representatives.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not Applicable
  • Tenant: Ellrich, Neal, Smith & Stohlman
  • Landlord: ABS National Business Parks
  • Market: Palm Beach Gardens
  • Tenant's Rep: Steve Paige(Reichel Realty & Investments)
  • Landlord's Rep: Kevin McCarthy(CBRE), Kevin Probel(CBRE)
  • Square Feet: 10,500
  • Address: 3300 PGA Boulevard, Palm Beach Gardens

The transaction, dated October 6, 2022, involved Ellrich, Neal, Smith & Stohlman leasing the 10,500 square feet office space at 3300 PGA Boulevard in Palm Beach Gardens from ABS National Business Parks. The negotiation was facilitated by Steve Paige from Reichel Realty & Investments representing the tenant and Kevin McCarthy along with Kevin Probel from CBRE acting as the landlord's representatives.

Players

Kevin Probel

JLL

Broker

$90.2M

vol

12 deals

Broker
CBRE
CBREBrokerage

Palm Beach Gardens 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