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450 East Las Olas Boulevard

Gunster Renews 22,000 SF Office Lease At 450 East Las Olas Boulevard
LEASEDOffice

Gunster Renews 22,000 SF Office Lease At 450 East Las Olas Boulevard

450 East Las Olas Boulevard

Building Size

22,000 SF

Asset Type

Office

Closing

Mar 1, 2024

AI

The property involved in the lease transaction is located at 450 East Las Olas Boulevard in Fort Lauderdale. This office asset spans 22,000 square feet and serves as the location for the office lease renewal between the landlord, DWS, and the tenant, Jonathan Osborne of Gunster.

Summary of transaction details:

Andy Ackerman and Tim Talbot of ComReal represented DWS, the landlord, in the lease renewal agreement. Meanwhile, Gregory Katz and Carlyle Coffin from Stream Realty Partners served as the tenant's representatives, overseeing the successful renewal of Gunster's 22,000-square-foot office space at Las Olas Centre. The commitment displayed by both parties emphasizes this location as Gunster's longstanding center, highlighting Stream Realty Partners' dedication to delivering exceptional service to law firms on a national scale.

Players

Carlyle Coffin

Stream Realty Partners⁠

Broker

6 deals

Broker

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