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Confidential Family Office Acquires Office Asset From Morning Calm Management For $45.7M

Property Image
SOLD
$45,700,000
Matthew (Matt) McCormack
Ike Ojala
+ 2

Florida

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Office71,694 SF
Sold 04/30/2025
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Property Image
SOLD

Confidential Family Office Acquires Office Asset From Morning Calm Management For $45.7M

205 Datura Street

See Similar Deals
Office71,694 SF
Sold 04/30/2025
Matthew (Matt) McCormack
Ike Ojala
+ 2
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$637
Total Square Footage:71,694 SF
Transaction Type:Sale

The property asset involved in this transaction is an office located at 205 Datura Street in West Palm Beach. The asset was sold for a total transaction amount of $45,700,000, comprising a total of 71,694 square feet, leading to a price per square foot of $637.

Summary of transaction details:

The key individuals involved in the transaction include the buyer, represented by a confidential family office, and the seller, Morning Calm Management. The brokerage team from JLL, consisting of Ike Ojala, Hermen Rodriguez, Matthew McCormack, Blake Koletic, and Hunter Smith, facilitated the deal, bringing expertise and market knowledge to the transaction.

Players

Hermen Rodriguez
23 deals$1.8B volume(305) 448-5332
BROKER

Ike Ojala
JLL
25 deals$2B volume(305) 774-6810
BROKER

Matthew (Matt) McCormack
JLL
31 deals$2.8B volume
BROKER

Blake Koletic
JLL
17 deals$1.5B volume
BROKER

Hunter Smith
JLL
14 deals$1.2B volume
BROKER

Morning Calm Management
SELLER

Details

SOLD
IMAGE: Hermen Rodriguez, Blake Koletic, Ike Ojala, Hunter Smith & Matthew McCormack DATE: 4/30/2025 ADDRESS: 205 Datura Street MARKET: West Palm Beach ASSET TYPE: Office BUYER: Confidential Family Office SELLER: Morning Calm Management BROKERS: Ike Ojala, Hermen Rodriguez, Matthew McCormack (@InstantMack), Blake Koletic (@BlakeKoletic) & Hunter Smith (@HunterSmith888) - JLL (@JLL) SALE PRICE: $45,700,000 SF: 71,694 ~ PPSF: $637

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,437,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$162,362.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$216,641.32
Annual Debt Service$2,599,695.78