MMB Commercial Properties Company Acquires Office In Plantation For $12.7M
2 South University Drive, Plantation, Florida 33328, United States
$12,700,000
$215/SF
Building Size
59,070 SF
Asset Type
Office
Closing
Feb 6, 2022
About this deal
AI
A 3.1-acre office property located at 2 University Drive in Plantation has been sold for $12,700,000. The property consists of approximately 59,070 square feet, resulting in a price per square foot of $215. The sale took place on 02/07/2022 and was facilitated by brokers Alex D. Zylberglait and Michael Crocchiola from Marcus & Millichap. The buyer, MMB Commercial Properties Company, was represented by Radomir Penjevic. The seller in this transaction was Rüger Holding.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $12,700,000
- Address: 2 University Drive, Plantation
- Market: Plantation
- Acreage: 3.1
MMB Commercial Properties Company, represented by Radomir Penjevic, acquired the property from Rüger Holding for $12,700,000. The property, located at 2 University Drive in Plantation, spans approximately 59,070 square feet, resulting in a price per square foot of $215. The transaction was facilitated by brokers Alex D. Zylberglait and Michael Crocchiola from Marcus & Millichap.
Players
Fort Lauderdale Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93