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3300 PGA Boulevard, Palm Be...

Janney Montgomery Scott & Cummings & Lockwood Lease Office Space In Palm Beach Gardens
LEASEDOffice

Janney Montgomery Scott & Cummings & Lockwood Lease Office Space In Palm Beach Gardens

3300 PGA Boulevard, Palm Beach Gardens, FL, USA

Building Size

11,331 SF

Asset Type

Office

Closing

Mar 17, 2021

AI

The office property located at 3300 PGA Boulevard and 11760 U.S. Hwy 1 North in Palm Beach Gardens has been leased. The tenant, Janney Montgomery Scott & Cummings & Lockwood, will occupy a space measuring 11,331 square feet. The lease term is for a period of 10 years. The asking rent for this transaction was $29 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 3300 PGA Boulevard & 11760 U.S. Hwy 1 North, Palm Beach Gardens
  • Market: Palm Beach Gardens
  • Tenant: Janney Montgomery Scott & Cummings & Lockwood
  • Landlord's Representative: Tara England & Anthony Librizzi - Cushman & Wakefield & Cameron Tallon - JLL
  • Asking Rent: $29 per square foot
  • Square Footage: 11,331
  • Lease Term: 10 years

Tara England and Anthony Librizzi from Cushman & Wakefield, along with Cameron Tallon from JLL, represented the landlord in this lease transaction.

Players

Anthony Librizzi

Cushman & Wakefield

Broker

$15M

vol

7 deals

Broker
JS
Janney Montgomery ScottTenant

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