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
About this deal
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.
On the Map
Office
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Players
Palm Beach Gardens Office Market Snapshot
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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