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Brookdale Group Acquires Office Building In Tampa For $151.3 Million

Property Image
SOLD
$151,300,000
Robbie McEwan
Matthew (Matt) McCormack
+ 4

Florida

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Office570,000 SF
Sold 06/25/2024
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Property Image
SOLD

Brookdale Group Acquires Office Building In Tampa For $151.3 Million

100 North Tampa Street

See Similar Deals
Office570,000 SF
Sold 06/25/2024
Robbie McEwan
Matthew (Matt) McCormack
+ 4
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$265
Total Square Footage:570,000 SF
Transaction Type:Sale

The office property located at 100 North Tampa Street in Tampa was sold for $151,300,000. The transaction involved a total square footage of 570,000, resulting in a price per square foot of $265. The property was acquired by Brookdale Group from an affiliate of PGIM Inc., the asset management arm of Prudential Financial. The seller was represented by Hermen Rodriguez, Ike Ojala, Matthew McCormack, Robbie McEwan, Blake Koletic, Max Lescano, and Hunter Smith from JLL.

Summary of transaction details:

The sale of the office property at 100 North Tampa Street in Tampa was a significant transaction facilitated by key individuals including Hermen Rodriguez, Ike Ojala, Matthew McCormack, Robbie McEwan, Blake Koletic, Max Lescano, and Hunter Smith from JLL. These professionals played crucial roles in representing the seller and ensuring a successful deal between the buyer, Brookdale Group, and the seller, an affiliate of PGIM Inc.

Players

Hermen Rodriguez
23 deals$1.8B volume(305) 448-5332
BROKER

Ike Ojala
JLL
25 deals$2B volume(305) 774-6810
BROKER

Matthew (Matt) McCormack
JLL
31 deals$2.8B volume
BROKER

Robbie McEwan
JLL
16 deals$864.8M volume
BROKER

Max Lescano
JLL
10 deals$982.9M volume(954) 812-6234
BROKER

Blake Koletic
JLL
17 deals$1.5B volume
BROKER

Hunter Smith
JLL
14 deals$1.2B volume
BROKER

Details

SOLD
IMAGE: Hermen Rodriguez, Blake Koletic, Ike Ojala, Max Lescano, Matthew McCormack, Hunter Smith & Robbie McEwan DATE: 06/25/2024 ADDRESS: 100 North Tampa Street MARKET: Tampa ASSET TYPE: Office BUYER: Brookdale Group SELLER: An affiliate of PGIM Inc., the asset management arm of Prudential Financial SELLER'S REP: Hermen Rodriguez, Ike Ojala, Matthew McCormack (@InstantMack), Robbie McEwan, Blake Koletic (@BlakeKoletic), Max Lescano & Hunter Smith - JLL (@JLL) SALE PRICE: $151,300,000 SF: 570,000 ~ PPSF: $265

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,069,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$537,536.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$717,239.19
Annual Debt Service$8,606,870.28