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.
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