Everglades College Acquires Office Building In West Palm Beach For $30.2M
2081-2085 Vista Parkway
$30,200,000
$318/SF
Building Size
94,965 SF
Asset Type
Office
Closing
Feb 9, 2023
AI
Everglades College has acquired an office property located at 2081-2085 Vista Parkway in West Palm Beach. The property was sold by Keenan Development Group, represented by Mark M. Rubin, Bastian Laggerbauer, and Achikam Yogev from Colliers International. The transaction took place on February 9, 2023, for a total sale price of $30,200,000. The office building spans approximately 94,965 square feet, resulting in a price per square foot of $318.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,200,000
- Address: 2081-2085 Vista Parkway, West Palm Beach
- Market: West Palm Beach
- Buyer: Everglades College
- Seller: Keenan Development Group - William Keenan
- Seller's Rep: Mark M. Rubin, Bastian Laggerbauer, and Achikam Yogev - Colliers International
- SF: 94,965
- PPSF: $318
Mark M. Rubin, Bastian Laggerbauer, and Achikam Yogev from Colliers International represented the seller, Keenan Development Group, in this transaction. The acquisition of the office property by Everglades College marks a significant deal for both parties involved.
Players
Market 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93