IP Capital Partners Acquires Office Building In Sunrise From Stiles Corp. For $25M
1300 Sawgrass Corporate Parkway, Sunrise, FL, USA
$25,000,000
$222/SF
Building Size
112,601 SF
Asset Type
Office
Closing
Mar 24, 2021
About this deal
AI
The office property located at 1300 Sawgrass Corporate Parkway in Sunrise has been sold in a transaction. The property, spanning 112,601 square feet, was sold for a total price of $25,000,000, resulting in a price per square foot of $222. This office asset is situated on 8 acres of land, with an average price per acre of $3,125,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $25,000,000
- Address: 1300 Sawgrass Corporate Parkway, Sunrise
- Market: Sunrise
The buyer in this transaction is IP Capital Partners, represented by Jason Isaacson. On the other hand, the seller is Stiles Corp., represented by Kenneth Stiles. The deal, completed on 03/25/2021, involved the transfer of ownership of the aforementioned property.
On the Map
$25,000,000
$222/SF
Office
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Players
Sunrise 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93