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1100 Banyan Boulevard

Stephen Ross, Joseph Jacobs, Philip Braunstein, Jose, Diego, And Inigo Ardid Acquire Office At 1100 Banyan Boulevard For $40M
SOLDOffice

Stephen Ross, Joseph Jacobs, Philip Braunstein, Jose, Diego, And Inigo Ardid Acquire Office At 1100 Banyan Boulevard For $40M

1100 Banyan Boulevard

$40,000,000

$570/SF

Building Size

70,131 SF

Asset Type

Office

Closing

May 1, 2025

AI

1100 Banyan Boulevard is a 70,131-square-foot office and TV studio located in West Palm Beach, encompassing 4.73 acres. The property was sold for $40 million, reflecting a price per square foot of $570. The transaction demonstrates a strong investment interest in the Banyan corridor as the market continues to develop.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $40,000,000
  • Address: 1100 Banyan Boulevard
  • Market: West Palm Beach
  • Asset Size: 70,131 SF
  • Price per Square Foot: $570
  • Buyer: Stephen Ross - Related Ross; Joseph Jacobs & Philip Braunstein - Wexford Real Estate Investors; Jose, Diego & Inigo Ardid - Key International
  • Seller: Adam Symson - The E.W. Scripps Company
  • Brokers: Anna Schaffer, Joe Judge, Matthew McCormack & Simon Banke - JLL

The E.W. Scripps Company sold the property, retaining a lease for at least 2.5 years. The deal was facilitated by JLL, highlighting the buyer's strategy to invest in the expanding market of West Palm Beach.

Players

Matthew McCormack

JLL

Broker

$2.8B

vol

31 deals

Broker
Joseph Jacobs

Joseph Jacobs

Wexford Real Estate Investors

Buyer

$182.1M

vol

4 deals

Buyer
WI
Wexford Real Estate InvestorsBuyer

West Palm Beach Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.40%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93