Everglades College Acquires $237.6M Office Portfolio In Fort Lauderdale, Fort Myers, Tampa, And More | Mark M. Rubin, Bastian Laggerbauer & Achikam Yogev, Colliers International
2050 Spectrum Boulevard, Fort Lauderdale, Florida 33309, United States
$19,500,000
$249/SF
Building Size
78,053 SF
Asset Type
Office
Closing
Jul 31, 2022
AI
The sale involved a portfolio of office properties located in Fort Lauderdale, Fort Myers, Tampa, Sarasota, Lakeland, West Palm Beach, and Pembroke Pines. The properties included in the portfolio are:
- 1900 W Commercial Boulevard - Nineteen Hundred Building
- 1500 NW 49th Street - Spectrum 1500 Building
- 9100 Forum Corporate Parkway - Delphi Fort Myers
- 5002 West Waters Avenue - Venus Investment Property
- 6001 Lake Osprey Drive - LWR Commons
- 6151 Lake Osprey Drive - University Commons
- 2400 Interstate Drive - Olympus Lakeland (Phase I)
- 2380 Interstate Drive - Olympus Lakeland (Phase II)
- 2085 Vista Parkway - Athena Vista (Phase I)
- 2081 Vista Parkway - Athena Vista (Phase II)
- 1640 SW 145 Avenue - Demeter Pembroke Pines
Summary of transaction details:
- Property Type: Office (Portfolio)
- Transaction Amount: $237,610,000
- Square Footage: 749,789
- Price per Square Foot: $317
The buyer in the transaction was Everglades College, while the seller was Keenan Development, represented by William Keenan. The deal was facilitated by Mark M. Rubin, Bastian Laggerbauer, and Achikam Yogev from Colliers International.
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93