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1701 Military Trail

Pebb Enterprises And Tortoise Properties Acquire Military Trail Office Building In Jupiter For $31.45M
SOLDOffice

Pebb Enterprises And Tortoise Properties Acquire Military Trail Office Building In Jupiter For $31.45M

1701 Military Trail

$31,450,000

$168/SF

Building Size

186,238 SF

Asset Type

Office

Closing

Mar 6, 2020

AI

The property at 1701 Military Trail in Jupiter has been sold in a recent transaction. The office building spans 186,238 square feet and was sold for a price of $31,450,000, resulting in a price per square foot of $168. The sale took place on March 6, 2020.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $31,450,000
  • Address: 1701 Military Trail, Jupiter
  • Market: Jupiter
  • Square Footage: 186,238
  • Price per Square Foot: $168

The buyer of the property is Pebb Enterprises represented by Ian Weiner and Tortoise Properties represented by Jake Geleerd. The seller is Poh Jupiter Ownership LLC, represented by Craig Sternberg. The transaction was facilitated by brokers from Cushman & Wakefield, including Jason Hochman, Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller, and Miguel Alcivar.

Players

Miguel Alcivar

Cushman & Wakefield

Broker

$965.1M

vol

39 deals

Broker

Craig Sternberg

Seller

$66.6M

vol

3 deals

Seller

Jupiter 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

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93