Harric Realty Corp Acquires Office Building In Palm Beach Gardens For $6.9M
11000 Prosperity Farms Road, Palm Beach Gardens, FL 33410, USA
$6,900,000
$248/SF
Building Size
27,755 SF
Asset Type
Office
Closing
Dec 7, 2021
About this deal
AI
An office property located at 11000 Prosperity Farms Road in Palm Beach Gardens has been sold for $6,900,000. The property spans 27,755 square feet, resulting in a price per square foot of $249. The sale transaction took place on December 7, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,900,000
- Address: 11000 Prosperity Farms Road
- Market: Palm Beach Gardens
The buyer of the property is Harric Realty Corp, while the seller is Blackstone Bldg WPB, LLC - H. Dean Properties. Marc D. Kleiner from Kleiner Law Group served as the counsel for this transaction.
Players
Palm Beach Gardens 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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93