Centerline Capital Advisors Acquires Fort Lauderdale Office For $7M
1500 Cordova Road, Fort Lauderdale, Florida 33316, United States
$7,008,250
$238/SF
Building Size
29,333 SF
Asset Type
Office
Closing
Apr 5, 2022
About this deal
AI
Fort Lauderdale's office market saw a recent transaction involving the property located at 1500 Cordova Rd. Spanning over 0.8 acres, this office asset was sold for a total price of $7,008,250. The sale was finalized on April 6, 2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $7,008,250
- Square Footage: 29,333
- Price per Square Foot: $239
- Market: Fort Lauderdale
- Buyer: Centerline Capital Advisors - Craig Perry
- Seller: Southern Centers Associates I - Kevin Buckley & Randall Kella
- Broker: Jaime Sturgis - Native Realty
The buyer in this transaction was Centerline Capital Advisors, represented by their broker, Craig Perry. On the other hand, the seller was Southern Centers Associates I, with Kevin Buckley and Randall Kella acting as their representatives. The broker facilitating the deal was Jaime Sturgis from Native Realty.
Players
Fort Lauderdale 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
2.26%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93