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789 International Parkway

State Of Florida - Department Of Revenue Leases Office Space At Sawgrass Concourse In Sunrise
LEASEDOffice

State Of Florida - Department Of Revenue Leases Office Space At Sawgrass Concourse In Sunrise

789 International Parkway

$25

$25/SF

Building Size

19,000 SF

Asset Type

Office

Closing

Aug 18, 2025

AI

The property asset involved is an office space located at Sawgrass Concourse - 789 International Parkway in Sunrise. The total square footage of the lease is 19,000, with an asking rent of $27 per square foot. The lease type is categorized as a NNN Lease.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $27/ft
  • Lease Square Footage: 19,000
  • Lease Type: NNN Lease
  • Landlord: MG3 Group
  • Tenant: State of Florida - Department of Revenue
  • Landlord's Representative: Gordon Messinger - CBRE
  • Tenant's Representative: Jerry Thornbury - Savills

The deal was facilitated by the landlord's representative, Gordon Messinger from CBRE, and the tenant's representative, Jerry Thornbury from Savills, who played key roles in the negotiation process for the lease agreement.

Players

Gordon Messinger

CBRE

Broker

$164M

vol

33 deals

Broker
Savills
SavillsBrokerage
CBRE
CBREBrokerage

Sunrise 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

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93