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

Property Image
SOLD
$15,650,000
Chase Kulp
Deanna Lobinsky

Florida

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Office104,594 SF
Sold 07/19/2024
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Property Image
SOLD

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

1801 Northwest 66th Avenue

See Similar Deals
Office104,594 SF
Sold 07/19/2024
Chase Kulp
Deanna Lobinsky
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$149
Total Square Footage:104,594 SF
Transaction Type:Sale

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
Chase Kulp
3 deals$15.7M volume(954) 673-5678
BROKER
Deanna Lobinsky
Cushman & Wakefield
Deanna Lobinsky
5 deals$15.7M volume(954) 377-0489
BROKER

Details

SOLD
IMAGE: Deanna Lobinsky, Chase Kulp & Walt Rosebrough DATE: 07/19/2024 ADDRESS: 1801 Northwest 66th Avenue MARKET: Plantation ASSET TYPE: Office ~ ACRES: 6.15 BUYER: Walt Rosebrough - Steris Instrument Management Services (@Steris.healthcare.usa) SELLER: Delta Investors Group BROKERS: Chase Kulp & Deanna Lobinsky - Cushman & Wakefield SALE PRICE: $15,650,000 SF: 104,594 ~ PPSF: $150 NOTE: Steris Instrument Management Services, based in Mentor, Ohio, acquired a Plantation office building for $15.65 million from Delta Investors Group, marking a discount from its previous sale price. The 104,594-square-foot office, located at 1801 N.W. 66th Ave., traded for approximately $150 per square foot, reflecting broader trends of office property value adjustments amidst remote work flexibility and shifting market dynamics.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,601.14
Cash-on-Cash Return-1.27%
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