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1200 S Pine Island Road

Brookdale Group Acquires Office Building In Plantation For $37.9M
SOLDOffice

Brookdale Group Acquires Office Building In Plantation For $37.9M

1200 S Pine Island Road

$37,935,000

$222/SF

Building Size

170,172 SF

Asset Type

Office

Closing

Apr 4, 2023

AI

The office property located at 1200 S Pine Island Road in Plantation has been sold in a transaction valued at $37,935,000. The property encompasses 170,172 square feet, resulting in a price per square foot of $223. The sale was facilitated by JLL brokers Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano, and Blake Koletic. The buyer is Brookdale Group, while the seller is AFL-CIO Advised By PNC Bank.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $37,935,000
  • Address: 1200 S Pine Island Road, Plantation
  • Square Footage: 170,172
  • Price per Square Foot: $223
  • Buyer: Brookdale Group
  • Seller: AFL-CIO Advised By PNC Bank
  • Brokers: Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano, and Blake Koletic - JLL

The involvement of JLL brokers Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano, and Blake Koletic highlights the expertise and representation provided to both the buyer, Brookdale Group, and the seller, AFL-CIO Advised By PNC Bank. The successful transaction demonstrates the strong market demand for office properties in Plantation.

Players

Hermen Rodriguez

JLL

Broker

$1.8B

vol

23 deals

Broker
BG
Brookdale GroupBuyer
PNC Bank
PNC BankLender

Plantation Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93