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
About this deal
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.
On the Map
$31,450,000
$168/SF
Office
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Players
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