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1801 Northwest 66th Avenue

Walt Rosebrough Of Steris Instrument Management Services Acquires Plantation Office For $15.65M
SOLDOffice

Walt Rosebrough Of Steris Instrument Management Services Acquires Plantation Office For $15.65M

1801 Northwest 66th Avenue

$15,650,000

$149/SF

Building Size

104,594 SF

Asset Type

Office

Closing

Jul 19, 2024

AI

A 6.15-acre office building located at 1801 Northwest 66th Avenue in Plantation was sold for $15,650,000. The asset encompasses a total area of 104,594 square feet, translating to a price per square foot of approximately $150.

Summary of transaction details:

Steris Instrument Management Services, based in Mentor, Ohio, was involved in the acquisition, indicating its commitment to expanding its real estate portfolio in response to changing market dynamics. The transaction reflects shifts in the office property landscape influenced by evolving work environments.

Players

Chase Kulp

Cushman & Wakefield

Broker

$15.7M

vol

3 deals

Broker

Plantation 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

1.01%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93